Unilever’s takeover rejection becomes a turning point
Unilever this year defeated a takeover bid from American rival Kraft. But the episode has prompted questions over the Anglo-Dutch group’s ability to maintain its much-envied sustainable business model.
Image: Shutterstock
“Don’t talk, but clean.” Unilever chief executive Paul Polman likes to quote this apparently well-known Dutch proverb to explain how his company headed off an opportunistic $143bn takeover approach from American groceries giant Kraft Heinz in February.
Maybe there’s something lost in translation. Polman admitted as much after the event, settling on “let’s just deliver” as his battle cry and crediting his “Calvinist Dutch approach” for allowing the company’s actions to do the talking.
It’s not what was expected from a man best-known for his passionate communication of the importance of sustainable development and a sens
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda
Related Stories
-
‘Single all-encompassing framework’ needed for sustainability reporting
Research by the Better Alignment Project highlights confusion over differing sustainability reporting frameworks and the language and taxonomy they use.
-
Audit keeps failing—here’s why a fundamental change is needed
The frequency with which companies fail—seemingly without any warning signs—has grown in recent years, with Wirecard the latest example. Auditing needs reform.
-
Collaboration is key for the challenging AGM season ahead
With shareholder activism on the rise, boards must ensure they engage fully with investor concerns and demonstrate how they are addressing crucial issues.
