A comprehensive background of Unilever containing its History and Origins, Early Evolution, Modern Business, Global Expansion, Company Structure, Recent Efforts and Company DNA. As one of the chapters of the book FMCG: The Power of Fast-Moving Consumer Goods by authors Greg Thain and John Bradley. For more details on their success story and that of other leading FMCG companies, check www.fmcgbook.com or Amazon http://amzn.to/1jRyd20.

2. History & Origin . . . . . . . . . . . . . . . . . . . 3
Early Evolution . . . . . . . . . . . . . . . . . . . . 7
Global Expansion . . . . . . . . . . . . . . . . 12
Modern Business . . . . . . . . . . . . . . . . . 18
Company Structure . . . . . . . . . . . . . . 21
Recent Efforts . . . . . . . . . . . . . . . . . . . 23
Company DNA . . . . . . . . . . . . . . . . . . 39
Summary . . . . . . . . . . . . . . . . . . . . . . . 41
Social Media Accounts . . . . . . . . . . . 43
2

3.  Unilever was created when British firm Lever Brothers and the Dutch-owned
Margarine Unie signed an agreement
 Built on 2nd of September 1929
 William Lever thought his first business lesson: there had to be potential in
improving things
 Second business lesson: expansion brought success
 Passing of the Trademark Act in 1875, William prompted to trademark
“Lever’s Pure Honey”
 William want to package his quality soaps from several suppliers all under
the Sunlight brand name
 With the help of two soap-making experts they made a winning recipe
formula based on Copra oil, tallow, cotton oil, and resin.
 Production for packaging the soap with full-colour visual on the box started
in January 1885.
3

4.  Two years later, his factory was bursting at the seams, making 450 tons a
week
 By the mid-1890s, Sunlight sales were at a staggering 40,000 tons a year
 Lifebuoy was launched in 1894
 Launched Sunlight Flakes, a waste from the bar cutting machines
 It was then rebranded as Lux Soap Flakes in 1900
 Cleaning needs like scouring powder with Vim launched in 1904
 Laundry powder with Omo – first conceived simply as a bleaching powder in
1908
 William never forgot the lesson as a salesman: “scale was a big benefit”
 1915 was his greatest triumph being the snaring of the famous Pears soap
company
4

5.  In 1919, William Lever set up operations in United States, Switzerland,
Canada, Australia and Germany
 In 1892, he begun the integration back up of his supply chain of Copra oil to
an arduous journey to Fiji and Samoa
 The company began developing a palm plantations in the Solomon Islands
 In 1920, an investment in Nigeria was near disastrous and terminal for
William’s leadership
 The Niger Company purchase had precipitated, installed one of the
company’s accountants, Francis D’Arcy Cooper, as the new managing
director
 In 1921, the company's head office was moved from Port Sunlight to London
 William Lever passed away in 1925
 In 1914, it starts to manufacture margarine, as per asked by the British
Government
5

6.  Unilever has two holding companies with had different shareholders:
 British Unilever Ltd. listed on the London Stock Exchange and
capitalized in sterling
 Dutch Unilever NV listed on the Rotterdam Stock Exchange and
capitalized in guilders
 The largest U.S. manufacturer of tea, the Thomas J. Lipton Company, was
acquired
 In the war years, Lifebuoy soap provided a free washing and bathing service
to bomb out civilians in Britain
 The most notable acquisition in 1943 was the purchase of Batchelor Foods
 Unilever had majority stakes in Frosted Foods, owned by Birds Eye brands
according to U.K. rights
 1944 was the acquisition of Pepsodent Toothpaste
6

7.  In 1919, Crosfield was acquired
 Post-war acquisitions were Chicago-based margarine manufacturer and
America’s oldest cosmetic firm, Harriet Hubbard Ayer
 In 1954, they launched Sunsilk in U.K. and by the end of the decade it was
being sold in 18 countries
 Purchased a French soap and toothpaste company, Thibauld Gibbs in 1956
 It then transitioned over to hair-care products under the more alluring-sounding
name of Elida Gibbs
 Unilever runs the very first television advertisement for Gibbs S.R. toothpaste
 Signal was launched in the U.S. market in 1957, as a breath-freshening
toothpaste
 Also launched Dove, a brand of soap containing 25% moisturizing crème
7

8.  In 1959, Germany operation came up with the idea of selling margarine in
tubs
 Netherlands Unilever bought an ice cream company
 The Niger Company renamed to United African Company
 By the mid-1950’s it was earning 15% of Unilever’s entire profits
 In 1960, bought The Streets in Australia (now Magnum Bar) and Frisko in
Denmark
 Their U.S. Operations bought the Breyer’s Good Humor brand in 1961
 1962 acquisition of Italy’s Spica, with Cornetto in its portfolio brought
success into the company
 Followed acquisition in Europe was a juiced up partnership with Nestle
 Cif/Jif, the first liquid abrasive household cleaner, quickly spread around the
Unilever empire
8

9.  It is set to expand their slaughter house business for the Walls and Hartog
Meat Brands
 The company was also expanding its operations in animal feeds, chemicals,
paper, packaging and transportation
 Unilever had an in-house advertising agency called Lintas
 Unilever was now in over twenty countries and taking on work from any
non-competing advertiser
 United African Company was the main agent for Caterpillar’s heavy earth-moving
equipment
 Also for Africa’s largest brewer through joint ventures with Heineken and
Guinness
 United African Company was expanding beyond Africa
 The company opened up operations in the Middle East and Pacifica Islands
9

10.  In the late 1960’s, Unilever almost merged with Allied Breweries
 In the end of 1960’s, Unilever had more sales than P&G, Colgate-Palmolive,
Nestle and Henkel combined
 Unilever enjoyed a 12% global market share, 50% of the market share
accounted for by butter
 In personal care, the company was barely beginning has a global share of
4%
 Unilever became the world’s second-largest soup manufacturer in a
subsidiary of T.J. Lipton
 The Dutch meat business Zwanenberg’s was acquired in 1970
 Launched the Impulse deodorant in South African business
 Bought a chemical company, National Starch for $487 million in 1978
10

11.  It was during the U.S. production crisis low-down
 In 1983, the supplier launched a brand of its own, a low-fat spread called
Country Crock
 It became an immediate success
 A bright spark in the ice cream R&D team was Vienetta
 Vienetta is an affordable luxury ice cream dessert
 It has a production technology protected by patent with many years left to
run
 The French personal products division created Axe body spray (branded Lynx
in the U.K.)
 By the end of the decade, Axe was Unilever’s largest deodorant
 Dove had been relaunched in the United States and then became the
country’s best-selling soap bar
11

12.  Belgium, Germany, France, Switzerland and Holland were the thriving Lever
Brothers sales agencies by 1889
 In 1906, 25% of the capital employed were from Belgium, Germany,
Switzerland, Canada, Australia and US
 Sunlight Soap became the largest selling soap in the world in 1880s.
 Sales offices in New York and Toronto were opened in 1888
 In 1899, William Lever bought an American manufacturer, Benjamin Brooke
&Co., the makers of the popular Monkey Brand soap
 After William died, operations in Thailand, Indonesia, China, Argentina, Brazil
started
 One of the best example of any western company cracking an emerging
market is India
 India, as a leading part of the British Empire, first sold Sunlight in their
market by 1888, soon followed by Lifebuoy in 1895
12

13.  Other Lever bestsellers such as Pears, Lux and Vim followed
 In 1918, Vanaspati was launched, a brand of hydrogenated vegetable fat
used in place of butter in Indian cooking
 Vanaspati was the first Unilever brand to be manufactured in India itself,
starting up in 1932
 Two years later a modern soap factory was up and running in Bombay,
followed by the setting up of third subsidiary, United Traders Limited
 The three companies merged to form Hindustan Unilever Ltd. (HUL) in 1956
 HUL, by which time has a Calcutta-based factory making a range of personal
products
 By 1967, Hindustan Unilever Ltd. was one of the top five companies in India
13

14.  It has 7,000 employees and 6 factories producing a highly diversified
product
 At the government’s request, HUL sold condoms
 In the mid-1970s, the leading detergent brand Surf was decimated due to a
low cost competitor
 Launched Wheel in 1987, which six years later had a market share of over
20%
 Came a merger between Hindustan Unilever Ltd. and Tata Oil Mills Company
in 1993
 In 1996, HUL formed a 50:50 joint venture with another Tata subsidiary,
Lakme
 In 1994, HUL and Kimberly Clark had a joint venture to market Huggies and
Kotex
 HUL also set up a subsidiary in Nepal, Unilever Nepal Limited (UNL)
14

15.  In 1994, Brooke Bond India and Lipton India (BBILI) merged to form Brooke
Bond Lipton India Ltd.
 The merger immediately launched the Wall's range of frozen desserts
 It also acquired distribution rights for other leading brands
 Brooke Bond India and Lipton India (BBILI) merged with Hindustan Unilever
Ltd. in 1996
 It was followed by the merger of Pond's (India) Limited with Hindustan
Unilever Ltd. in 1998
 In 2000, Unilever had 74% of the government-owned bread business,
Modern Foods
 HUL acquired the full control two years later
 Unilever’s first soap powder brand sold in Brazil had been the cheap and
cheerful Rinso
 In 1959, it was supplanted by Brazil’s first synthetic brand, Omo
15

16.  By 1970, Unilever had 22 operating companies with an annual sales of over
£30 million a year
 14 companies were based outside the U.K. and the Netherlands
 Excluding North America and Europe, Unilever India was accounting for 24%,
South Africa 11% and Turkey 7%
 Japan had also been a rocky road for the company
 In 1913, Lever had built a soap factory in Japan but was sold after 10 years.
 The company name became Nippon Lever in 1977
 The breakthrough came with the ever-dependable Sunsilk, launched in 1977
 In 1985, Unilever formed a 50:50 venture to form Shanghai-Lever
 Beginning with the production of Lux in 1987
16

17.  By 1990, Unilever’s sales in China had reached a respectable $32 million a
year
 Though, the figure was still small in comparison to the company’s total
overseas sales (excluding Europe and North America) of nearly £5 billion a
year
 In Czech Republic, Hungary and Russia by 2001 the company had seven
manufacturing sites
 It included a margarine factory in Moscow, dressing, tea, home and personal
care factories in St Petersburg, and food and ice cream factories in Tula and
Omsk
17

18.  The company embarked on its first-ever hostile takeover bid, that is winning
through in September 2004 at a price of £390 million
 Unilever bought Chesebrough-Ponds in January 1987 for £2 billion
 Brands such as Vaseline and Pond’s catapulted Unilever to 4th largest global
skincare company
 Most notably acquisition approached to Unilever was Elizabeth Arden-
Fabergé who made their pitch in October 1988
 This deal was consummated in 1989 for £996 million and soon followed by
Calvin Klein with its highly successful Obsession and Eternity brands
 One small acquisition that would pay back many times over was that of a
small U.S. margarine manufacturer, J. H. Filbert
 The Becel margarine brand was proving a success
 Sunsilk now selling in over 30 countries
18

19.  The brand has 12% of the world shampoo market in 1985
 Signal was sold in 18 countries and had 5% of world toothpaste sales
 The company’s Unipath subsidiary developed a successful pregnancy testing
kit called Clearblue
 The Dove brand began its European rollout in 1989
 The same year that the Magnum brand appeared as a response to the entry
of Mars into the ice cream category
 The remaining portions of UAC - finally sold by 1994
 Agribusinesses followed in 1995
 The meat processing and fish businesses in 1997
 The same year that the chemicals division was sold to ICI for a hefty £4.9
billion
 Significant acquisitions includes the Helene Curtis hair-care business, Ben &
Jerry’s, Slimfast in early 2000
19

20.  Breyers ice cream was also bought which made Unilever America’s largest
ice cream company
 In 2000, company’s biggest acquisition by far was Bestfoods
 It took total company sales to $52 billion a year
 Bestfoods brought some leading brands into the fold like Knorr and
Hellman’s
 40% of Unilever sales is from outside North America, an ideal fit with the
globalized Unilever
 1,000 of the brands delivered only 8% of total company sales
 The collateral damage was that 100 of the 350 factories would go along with
25,000 employees
 Only a year later the company portfolio was down to 900 brands as 87
businesses were sold off
20

21.  Unilever was set up with two distinct capitalized entities. Those entities
shared the same board of directors and had separate chairmen. It has an
agreements in place to ensure dividends were paid equally
 The first board meeting of each year has each country delegated executive
to the Special Committee which had two British and one Dutch member who
collectively acted as the CEO
 There was an understanding that the Dutch side would run continental
Europe, while the British side run the rest of the world
 By 1960, an existed structure beneath the Special Committee and the boards
to manage around five hundred operating companies
 The six management groups consist of UK Committee, Continental European
Group, Overseas Committee, Plantation, UAC and North America
 By 1960, Product Committees had set up for detergents, foods, toiletries and
edible fats, all based in Rotterdam
21

22.  In 1972, McKinsey (Unilever CEO at that time) had recommended extending
co-ordination to all the other European countries
 In 1989, a new Foods Executive was formed in Rotterdam
 The three foods co-ordinations were replaced by five new product
groupings: spreads, oils and dressings; meat and meal components; ice
cream and sweet snacks; beverages and savoury snacks; and professional
markets
 In 2001, Unilever was organized into two global divisions, Food and Home
and Personal Care, with the aim of optimizing synergies across the product
portfolio
 In early 2005, this was simplified into a matrix structure, with the two
divisions responsible for strategy and brand development
 The regional groups of each division were merged, with the regional level
responsible for go-to-market execution
22

23. 2004
 Twelve brands had sales in excess of €1 billion
 Approximately two-thirds of total sales derived from brands larger than €0.5
billion
 That is no mean feat given a starting point of 1,600 brands
 Knorr, the company’s largest brand, was sold in over 100 countries
 Dove, Signal and Pepsodent were all relaunched
 The Pro-Activ cholesterol-lowering spread was extended into other dairy
categories
 The ever-reliable Sunsilk grew by double digits
 The €1 billion+ R&D programme had been realigned behind the new Vitality
agenda
 It registered 370 patents in the year
 The Latin American region had an underlying sales growth in the year
23

24.  All the unwanted brands and businesses were being sold off
 For the first time since its formation, Unilever would have one chairman, one
board, one CEO with one executive team.
 There would be two category presidents, one each for Foods, and for Home
and Personal care (HPC), responsible for R&D, brand development and
category development.
 Alongside would be three regional presidents (Europe, The Americas,
Asia/Africa, Middle East and Turkey)
2005
 More disposals, primarily of the Unilever Cosmetics International to Coty Inc.
for $800M
 Sales grow to 3.1%, US grew by 3%, Asia/Africa grew by 9% with China up by
over 20% and a strong recovery in the key Indian market
 For the first time, sales in all the developing and emerging markets exceeded
those in Europe
24

25.  The driver of most of the good regional performances was the personal care,
up over 6%
 The company assessed the nutritional profiles of over 16,000 products in the
year and found many in difficulties
 Fast-evolving consumer attitudes to saturated fats, sugar and sodium were
seriously compromising sales were some
 Merged One Unilever single-country organizations accounted for 80% of
total turnover
2006
 It has a structure that enabled rather than hindered its global scale and reach,
the company could, for the first time in its history, define a clear mission for
itself:
“Our mission is to add Vitality to life. We meet everyday needs for
nutrition, hygiene and personal care with brands that help people feel
good, look good and get more out of life”
25

26.  Top line sales grew by 3.8%
 In Personal Care grow by 6% again and Omo is now over €2.5 billion
 Launched Domestos 5x which killed germs in the toilet bowl for five times
longer than anything else on the market
 Launched Surf Excel in India that has a low-rinse formulation, was reducing
the water needed for a wash-load by two-thirds
 The Foods Division was wrestling with removing 37,000 tons of fats, 17,000
tons of sugar and 3,000 tons of sodium from its products without altering the
flavour, initiatives
 China was really the only market where Unilever was growing at a new
entrant’s pace
 On the opportunity side, the company was investing €350 million in
venturing activities to develop the winners of tomorrow
26

27. 2007
 Sales grow by over 5% and even Europe pitching in with +3%
 Clear, a new shampoo with enhanced proprietary anti-dandruff technology
was launched
 Personal care grew by almost 7%
 Rexona was the world’s largest deodorant brand and Axe the largest male
deodorant
 Knorr was now almost a €4 billion brand
 The top 25 brands accounted for almost 75% of turnover
 44% of company sales came from developing and emerging markets
 The company’s roster of household cleaning brands grew by an impressive
9%; Vaseline grew by 8%
 Dove’s Campaign for Real Beauty was partnering with organizations in over
twenty countries
27

28.  Hellman’s Extra Light was using citrus fibre to deliver a very low-fat content
and a very high profit margin
 Launched in Turkey under the brand name, Amaze Brainfood
 Acquired Russia’s leading ice cream company, Inmarko
 US grow by 4.1% while Asia/Africa grew by over 11% with volume and
contributing two-thirds of the growth
 Areas of strength were India, the Philippines, South Africa and Turkey, which
all grew in double digits
2007
 A regionalization of head office functions to jointly serve several country
markets.
 A rationalization, arrived in the same year that some countries - Brazil,
Argentina and Mexico - were still catching up with the One Unilever single-head-
office-per-country notion
28

29. 2008
 For the 3rd year in a row, Unilever increased its rate of underlying sales
growth by 7.4%
 Home care charging ahead at +9.8% and ice cream and beverages bringing
up the rear at +5.9%
 Savings from One Unilever and elsewhere provided over €1 billion
 New CEO, Paul Polman, previously Chief Financial Officer and head of North
America for Nestlé, still felt there was more to be lost
 6,000 staff were finally brought together into one organization
 Launch of Signal White Now, the world’s first toothpaste
 Brands were managed under four sub-groups: savoury, dressing and
spreads, ice cream and beverages, personal care; and home care
 Western Europe just had underlying growth of only 1.3% versus 6.5% for the
Americas and 14.2% for Africa/Asia
29

30.  Prices increases of 3.8% also dug deeply into European performance and
volume slipped by 2.5% while US business grew by 3.8% and Latin America
steamed ahead by 12%
 The newly named Asia, Africa and Central and Eastern Europe region (AACEE)
seemed to be recession-free
 Underlying sales in the region grew by an impressive 14%.
 Unilever’s top five developing and emerging markets in the region also grew
by approximately 20%
 For a €3 billion total, the Boursin cheese brand, Lawry’s and Adolph’s brands
of seasoning and marinades and Bertolli olive oil and vinegar joined the
North American laundry business.
2009
 The company’s underlying growth was 3.5%, 2/3 of which was the result of
volume increases
30

31.  Africa, Asia, Central and Eastern Europe was now the largest of the three at
nearly €15 billion
 The region also delivered the biggest operating profit nearly €2 billion with
underlying sales growth of more than 7.7%, with volume up 4.1%
 US and Brazil, were the strongest performers, helped by increases in
advertising and promotional spending paid for from cost savings
 Dove Minimizing Deodorant had been launched in 37 markets
 Clear shampoo was now in 35 markets
 Signal White Now in 21 markets
 Knorr Stockpots (using a proprietary gel formula) in 12 markets
 Sales potential of greater than €50 million
 With a new innovation center opened in Shanghai and a doubling of projects
in the pipeline
 The company appointed its first ever Chief Global Supply Chain Officer
during 2009, a role long common elsewhere
31

32.  Acquisition of a Russian ketchup business and announcement of the
impending purchase of Sara Lee’s personal care brands, Sanex, Radox and
Duschdas would lead Unilever to take more globally
 Louise Fresco, a Professor of International Development and Sustainability at
the University of Amsterdam, was appointed to the board
 Unilever was actively developing products like Comfort One Rinse fabric
conditioner, which required less rinsing.
 A campaign by Lifebuoy in India was launched
 The campaign expanded to Bangladesh, Sri Lanka, Pakistan, Indonesia,
Vietnam and South Africa
 Campaign was grown to include backing of Global Hand-washing Day, and
reached over 133 million people.
 Lifebuoy was voted one of India’s most trusted brands
32

33.  New CEO Paul Polman announced a new strategy that would drive the new
Unilever hard
 The new vision – to double the size of the business while improving its
environmental footprint winning with brands and innovation
 Winning in the marketplace
 Winning through continuous improvement
 Winning with people
 The unique aspects were in details and stressed the same theme: overlaying
world-class performance standards on Unilever’s unique global footprint
2010
 The turnover finally left the €40 billion mark, rising 11% to over €44 billion
 While 7% of the rise was due to currency changes
 The remaining 4% is due an underlying volume increase of nearly 6% - the
highest for more than thirty years
33

34.  Asia, Africa, Central and Eastern Europe excelled with an increase of 18% on
the currency-enhanced top line
 The growth was underpinned by a 10% volume increase
 China, India, Turkey and Vietnam being well into double-digit territory
 Re-launching of Wheel detergent brand across 25 Indian states in just 49
days
 Expanding their direct delivery network to another 630,000 stores in 110,000
new villages during the year
 In the Americas, Latin America once again drove the volume increase to
nearly 5%
 Gaining share in the hair and skin cleansing categories, although losing it in
spreads and weight management
 Western Europe once again brought up the rear
 1.4% volume growth from of Ireland, Greece and Spain, all substantial
Unilever markets
34

35.  The company grew volume by at least 2% and grew market share in the UK,
France, Italy and the Netherlands
 More than forty innovations in the year were launched into more than ten
markets
 Magnum Gold and Dove Men+Care rolled out to 30 markets
 Unilever won Global Supplier of the Year award from both Wal-Mart and
Tesco.
 Savouries, dressings and spreads had only 35% of its turnover in the D and E
markets and delivered an over 2.5% volume increase
 Ice cream and beverages had 45% exposure and grew by 5.9%, whilst
personal care had 61% of sales and grew 7.9%. At the top was home care:
78% of D and E turnover grew by 8.2%.
 Comfort gained 5.7 million new users in China
 Rexona deodorant lotion picked up 5.3 million in Indonesia
35

36.  Announcement of the blockbuster purchase of the Alberto Culver Company
for $3.7 billion
 Unilever was, as the CEO described, ‘Now fit to compete’
2011
 Underlying volume growth dropped back to 1.6%
 Significant cost-driven price increases totaled €2.4 billion
 It drove the underlying sales growth up to a recent high of more 6.5%
 Performance differences between emerging and developed markets were
marked.
 India, China, Turkey and South Africa again grew double digit
 11.5% sales increase across all emerging markets: the company’s developed
markets trod water
 Dove became the company’s first €3 billion personal care brand
 More than 3 million shops signed up to Unilever Perfect Store program
36

37.  The combination of price increases and a further €1.5 billion in cost savings
protected the operating margin and enabling a modest increase in the
company’s €6 billion advertising budget (Unilever are the world’s second-largest
advertiser)
 Axe Excite was launched in 100 markets in the year, 70 innovations were
launched into more than ten markets
 TRESemmé had been launched into Brazil, Simple into the U.S., and Motions
into South Africa
 Genesis program was now producing some genuine breakthroughs
 It was incorporated into PG Tips and Lipton Yellow Label
 The Motionsense technology that greatly prolonged the efficacy of Rexona
deodorant
 Personal care led the way with a volume growth of over 4%
 Home Care delivered 2.2% more volume
37

38.  Refreshment (the newly-named Ice cream and beverages category) grew
volumes by only 1.4%
 Beleaguered foods division dropped 1.2% by volume
 Spreads, dressings and soups were not D and E favorites
2012
 Core operating margin increased to 13.8%, boosted by Magnum and Sunsilk
 Unilever now have 14 brands with sales of more than $1 billion/year
 These key brands accounted for almost 50% of the 2012 growth
 The launch of TRESemme in Brazil was also one of the company’s most
successful ever
 Adding €150 million to turnover, which increased by 10.5% and took Unilever
above the €50 billion barrier for the first time
 They now account for more than 55% of total business
38

39.  Much of the uniqueness of the company was traced back to the company’s 3
key elements:
1. William Lever himself;
2. The 1929 merger that created a multi-category, multi-national
company; and
3. The company’s remaking into a focused packaged goods company
 William Lever saw almost from the very beginning that acquisitions were the
path to success in the soap and detergents battlefield
 Lever acquired his way to complete UK market dominance
 Similarly, the company’s Dutch margarine barons employed the same before
the big the merger
 Almost all of Unilever’s history, it has been a serial acquirer of businesses
 Emerging Markets - The scale of Unilever’s emerging markets business,
accounting for 54% of the sales and rising
39

40.  Second comes organic sales growth, which Unilever has been achieving ever
since emerging markets hit the radar with a 9% underlying sales increase
over the past twenty years in these very fertile markets
 The company has unparalleled experience of operating in sometimes
extremely basic and volatile economic conditions.
 Local Roots with Global Scale - The divestment of non-packaged goods
businesses followed by the creation of a global operating structure has
created a new
 Recent addition to the Unilever DNA: a superb balance of global and local
capabilities
 The sharpening of Unilever’s somewhat lax historical performance culture by
the current CEO looks like being the final piece of a now-complete puzzle
that should make Unilever the very best global-local packaged goods
business
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41.  Unilever is the best example of how understanding a company’s formation,
roots and early evolution helps us to understand it both today and
tomorrow
 The company seems to have been evolving since the day of the merger and
is only now emerging from its chrysalis.
 The company has built skills and market positions that now simply cannot be
replicated.
 We believe the rest of the foods division should be added too, and for four
key reasons:
 The logic that brought margarine and detergents together in the first
place no longer applies: technologies and ingredients
 As the company becomes global in what and how it operates, many of
the foods brand are more local in strength, with thousands of differing
recipes. 65% of sales are outside emerging markets where the company
is strategically advantaged.
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42.  While the benefits of green tea in the company’s Unilever Sustainable
Living Plan are plain to see, it’s hard to see how the planet will benefit
from the sale of more Hellmann’s Mayonnaise.
 We believe the Unilever of today would not buy Bestfoods if it were still
independent and up for sale
 The tea and ice cream businesses have global scale, with global and
regional brands and a much clearer role in the company’s strategy.
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43. Website: www.unilever.com/
LinkedIn: www.linkedin.com/company/unilever
Facebook: www.facebook.com/unilever?fref=ts
Twitter: www.twitter.com/Unilever
Instagram: instagram.com/unilever
Youtube: www.youtube.com/user/Unilever
Google+: plus.google.com/u/0/107151498988684093835/posts
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