Unilever is looking to sell off its ice cream brands in a deal that could be valued between £10 billion to £15 billion.
👉 Background: Unilever is the British consumer goods conglomerate that's behind more than 400 global household brands. It also owns half of the top 10global ice cream brands like Ben and Jerry's, Magnum, Walls, and Cornetto.
👉 What happened: Unilever is looking to sell off its ice cream brands in a deal that could be valued between £10 billion to £15 billion, and also lay off 7,500 staff members as part of its "productivity program".
👉 What else: These major changes are the first big step announced by Unilever’s new CEO, who stepped into the role in July last year to turn the company around after years of slow growth.
💡When a new CEO comes in, it's usually before big strategic changes within the company.
💡When Unilever’s new CEO stepped in, the board mandated that things needed to change. So six months into the job, Unilever's CEO is culling Unilever's ice cream brands - its slowest growing unit.
💡We've seen new CEOs step in when a company needs to undergo a strategic shift before. Last year, Qantas brought in Vanessa Hudson as its new CEO to repair the company's reputation and rebuild trust with customers.
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