1014 GMT - Unilever's replacement of its CEO suggest the turnaround plan wasn't progressing as quickly as hoped, AJ Bell investment director Russ Mould says in a note. While the company's performance under Hein Schumacher's leadership hasn't been bad enough to warrant his departure, some clues come from Chair Ian Meakins' comments, Mould says. Meakins said new CEO Fernando Fernandez has the ability to "drive change at speed," and that the board has confidence in him realizing the benefits of a growth plan "with urgency," Mould says. But this could mean the company is overly focused on the short term, he says. "Being too aggressive simply to get the share price moving higher is a dangerous road to travel as mistakes can easily be made," Mould notes. Shares are down 1.8%. (michael.susin@wsj.com)
(END) Dow Jones Newswires
February 25, 2025 05:14 ET (10:14 GMT)
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