Unilever Regulatory News (ULVR)

09 December 2024

Unilever PLC

ULE Organisational Changes

Unilever today announces organisational changes to the Unilever Leadership Executive (ULE) in order to bring further focus and simplification to the leadership structure, in support of Unilever's strategic agenda under the "Growth Action Plan 2030" ("GAP 2030").

As previously disclosed, under the GAP 2030, and following the separation of Ice Cream, Unilever will be focused on four Business Groups: Beauty & Wellbeing, Personal Care, Home Care and Foods. These four Business Groups will operate across 24 Business Group-led markets. The remaining 100+ smaller markets will be run on a "One Unilever" basis to benefit from scale and simplicity.

Reginaldo Ecclissato, currently Chief Business Operations and Supply Chain Officer, has been appointed President One Unilever Markets and will report to the Chief Executive Officer. As a result Fernando Fernandez, Chief Financial Officer (CFO), will take responsibility for a number of operational activities, including supply chain and procurement, digital and technology and business services. To reflect the increased scope of the role, Fernando's fixed pay will change as set out below.

Willem Uijen, currently Chief Procurement Officer, has been appointed to the role of Chief Supply Chain Officer reporting to the CFO.

The new operating model and organisational changes will be effective from 1 January 2025. Unilever confirms there is no further information to be disclosed under the requirements of UK Listing Rule 6.4.6(3)R.

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Proposed changes to the CFO remuneration

In line with Unilever's existing remuneration policy, Fernando's fixed pay will be increased by 7.5% in recognition of the increase in the scope of the role from 1 January 2025.