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Investing.com -- Unilever (LON:ULVR)’s new Chief Executive Officer, Fernando Fernandez, plans to expedite the company’s turnaround strategy by offloading several underperforming food brands.
According to Barclays (LON:BARC), Fernandez revealed that Unilever has approximately 1 billion euros worth of local brands in its foods Europe division that mismatch with the company’s portfolio.
Additionally, the consumer-goods company holds another 500 million euros in smaller markets, which it does not consider scalable. Fernandez expressed his intention to address these brands, likely at a quicker pace.
This plan to potentially dispose of these brands aligns with the company’s objective to expand the business by concentrating on the most profitable brands.
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