Organised around five core business groups, the set-up was designed to allow Unilever to respond faster to consumer trends
Vaseline falls under Unilever's new €10.1bn Beauty & Wellbeing group
This comprises Beauty & Wellbeing, Personal Care, Nutrition, Home Care and Ice Cream. Each business group is focused on particular categories and brands, with each segemnt being fully responsible and accountable for its own strategy, growth and its global profits delivery.
Unilever said the new structure will help to improve performance by reducing complexity, allowing it to better respond to consumer and channel trends faster than ever before.
Since its implemention Unilever Beauty & Wellbeing reported underlying sales growth (USG) of 7.4% in its first quarter results, with Personal Care sales growth reaching 6.7% during the same period.
The consumer goods company originally announced the plans in January 2022, alongside a major staff shakeup which resulted in the loss of 1,500 jobs globally.
“Our new organisation mode has been developed over the last year and is designed to continue the step-up we are seeing in the performance of the business,” said outgoing CEO Alan Jope at the time.
“Moving to five category-focused business groups will enable us to be more responsive to consumer and channel trends, with crystal-clear accountability for delivery.
“Growth remains our top priority and these changes will underpin our pursuit of this.”
The move has been spurred by significant pressure from shareholders to turnaround Unilever’s business model following a fluctuating negative trend in share price.