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A corporate raider is coming after Hellmann's and Dove

A corporate raider is coming after Hellmann's and Dove



Sales are up and prices too. Crocs CEO says brand was 'too cheap'ReplayMore Videos ... (15 Videos)Sales are up and prices too. Crocs CEO says brand was 'too cheap'Patek Philippe president welcomes hip-hop and NFT fanaticsLuxury watchmakers see good times ahead as shoppers returnInflation is pushing up high fashion prices. Luxury buyers don't seem to mindFacebook's parent company has a brick and mortar store. See what's insideNew tech in Walgreens brings mixed reactions, confusion onlineThis AI technology lets you skip the checkout lineMattel CEO: The company is in growth modeGrocery price hikes: 'We're going to feel the effect for months'Watch the comedic saga around CVS receiptsNeiman Marcus CEO on pandemic struggle and post-bankruptcy comebackGarnier: Time for beauty industry to 'change the game' on sustainabilityKey inflation measure hits 39-year highRestaurant owner who lost $2 million in weeks speaks outSee how Walmart can stock your kitchen when you're not homeNew York (CNN Business)A shakeup may be in the works at Unilever, the consumer goods giant behind brands like Dove soap, Hellmann's mayonnaise and Vaseline.

Unilever (UL) announced Monday that Nelson Peltz, one of the most influential corporate raiders on Wall Street, will join the company's board of directors and disclosed that Peltz's fund holds a 1.5% stake in Unilever.Peltz is an activist investor known for pushing under-performing companies to restructure, spin-off businesses and even break up. In the past, he has helped force changes at food and consumer giants such as Procter & Gamble (PG), Mondelez (MDLZ) and Wendy's (WEN). Why stores always put candy and soda near the cash registerIt's not immediately clear what Peltz has planned for London-based Unilever, which has lagged rivals in recent years and made three failed bids to acquire GlaxoSmithKline's consumer health care business. In January, Unilever said it was cutting 1,500 management jobs around the world and simplifying its business structure.Read MoreSome analysts have called for Unilever to split its food and drink brands from its home and personal care division.Wall Street, however, is betting that Peltz will help transform Unilever. Shares rose 8% during early trading Tuesday. Analysts say the company needs a major revamp."Unilever has a double problem," said AllianceBernstein analyst Bruno Monteyne. The company is in "structurally low growth categories" and investors have lost confidence in the board and management.Monteyne expects Peltz to bring Unilever "back to basics" and focus on investing in innovation, adjusting executive compensation incentives and accelerating the pace of acquisitions and sales.Unilever has been on Peltz's radar for months. In January, the Financial Times reported that he acquired a stake in the company. On Monday, Unilever chair Nils Anderson said in a statement that the company has held "extensive and constructive discussions" with Peltz.


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