UNA

1054 GMT - Unilever PLC is among the most mentioned topics across news items over the past four hours, according to Factiva data, after the company named its new chief executive officer, a move that was welcomed by the market. The owner of Ben & Jerry's ice cream and Dove soap has appointed Dutch dairy co-operative boss Hein Schumacher as CEO, replacing Alan Jope who is retiring. Unilever has weathered economic turbulence pretty well and the market has welcomed Schumacher's appointment in expectation he will help steady the ship further, Hargreaves Lansdown says. "He's the current CEO of the Dutch dairy and food giant, FrieslandCampina, so he'll be seen both as a safe pair of hands and a fresh injection of ideas for the company," HL analyst Susannah Streeter writes. RBC Capital Markets analysts James Edwardes Jones and Emma Letheren say the company is seen needing a cultural and organizational shake-up but it's likely to be a while before any results materialize. "It usually takes about 18 months before we see evidence of improved execution and a re-rating of the shares of a consumer staples company," they say in a research note. Shares are trading 0.6% higher at 4,044.50 pence. Dow Jones & Co. owns Factiva. (ian.walker@wsj.com)

(END) Dow Jones Newswires

January 30, 2023 06:09 ET (11:09 GMT)

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