UNILEVER has begun a search for a new chairman as Swedish veteran Michael Treschow prepares to hand over the reins after almost 10 years in the role.
The company behind Dove soap and Magnum ice-creams is understood to have hired headhunters at Russell Reynolds Associates to search for his successor, Sky News first reported.
An appointment is expected to be announced before the end of the year, with the new chairman taking over from Treschow at next year’s annual meeting. The position is expected to be highly coveted.
Treschow, who is considered one of Sweden’s most powerful businessmen, joined Unilever in 2007. He also serves as chairman of Swedish companies Ericsson and Electrolux.
A spokesperson for the company told Sky News yesterday that it was usual for non-executive directors to serve up to nine years.
“Succession planning for the next chairman is in place and ongoing,” the Unilever spokesperson said.