Unilever named company outsider Paul Polman, a veteran of its two biggest consumer goods rivals, as chief executive on Thursday in a surprise choice to revive its sluggish performance that sent its shares surging.
Polman, who missed out on the top job at the world's biggest food group Nestle SA last year, becomes the first new head of Anglo-Dutch Unilever Plc/NV not promoted from within the company in its 78-year history. He will replace Patrick Cescau in early 2009, the company said.
A 52-year-old Dutchman, Polman spent 26 years at US Procter & Gamble (P&G) before moving to Swiss Nestle in 2006 as chief financial officer. But although seen as favourite for the top job there, he was pipped by Nestle's Americas region head, Paul Bulcke.