Unilever (UL) said Thursday its plans to separate its ice cream division is on track to be completed by the end of 2025.
The company said it is making progress on key workstreams, including setting up legal entities, implementing a standalone operating model, and other financial preparations.
Jean-Francois van Boxmeer, chair of Vodafone Group and a non-executive director at Heineken Holding, has been appointed chair designate for the new entity.
The spinoff will result in a separate entity publicly listed in Amsterdam, London and New York. The business will be incorporated in the Netherlands and its headquarters will remain in Amsterdam.
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