0912 GMT - Unilever's CEO departure after 18 months in the role is never a good thing, especially during a strategy turnaround, Quilter Cheviot head of equity research Chris Beckett says in a note. The consumer-goods company's decision suggests that the plan wasn't going well behind the scenes, Beckett says. Unilever's last earnings season also indicates the turnaround had stalled, with weak guidance and sales growth only likely to improve by passing on higher commodity costs, Beckett adds. However, new CEO Fernando Fernandez is unlikely to make changes in the strategy, and the guidance has been reiterated, Beckett says. "Results will be watched even more closely now to ensure there are no signs of cracks within that turnaround strategy," he adds. Shares are down 1.5%.(michael.susin@wsj.com)
(END) Dow Jones Newswires
February 25, 2025 04:12 ET (09:12 GMT)
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