Unilever Names Polman as CEO

Unilever named Paul Polman, a company outsider and veteran of its two largest competitors, surging share prices. Polman replaces Patrick Cescau, according to a Unilever statement.

Polman, 52, spent 26 years at U.S. Proctor & Gamble before moving to Swiss Nestle in 2006 as CFO.

Chairman Michael Treschow said, “Polman is a great talent with significant international experience and an excellent track record. He has all the attributes necessary to build on Patrick’s achievements. We are delighted that he has agreed to join the business and to lead Unilever into the next stage of its development.”