Unilever's third-quarter underlying sales growth topped market expectations on Thursday, driven by strength in its beauty products across North America and emerging markets. ...

This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Unilever is delaying the spin-off of its ice cream business due to the U.S. government shutdown, though it still expects to complete the divestiture in 2025. The CPG giant initially planned to separate The Magnum Ice Cream Company on Nov. 10, creating the world’s largest ice cream-only business with $9.3 billion in sales and a portfolio of brands such as Ben & Jerry’s, Tal ...

Core Insights - Unilever's new CEO, Fernando Fernandez, is implementing significant leadership changes, aiming to refresh up to 25% of the company's top 200 leaders [1] - The company has reduced its white-collar workforce by approximately 18% over the past 18 months to enhance accountability [1] - Unilever is shifting from a geography-led strategy to a category-led approach, managing brands as comprehensive business units [1] Leadership Accountability - Fernandez highlighted the presence of "many pockets of mediocrity" within the company that need immediate attention [2] - The company now has absolute accountability with four business group presidents overseeing 44 P&L units, ensuring transparency in leadership [2] - Leaders are encouraged to make quicker decisions with a higher risk tolerance, operating with 70% certainty to avoid delays [6] Cultural Transformation - Unilever aims to foster a culture akin to a startup, which is unprecedented for a company of its size [6] - The company is hiring and promoting emerging talent, increasing performance incentives up to 200%, and offering rewards in "hard currency" [9] - The goal is to create a culture that recognizes and rewards leadership performance, ensuring Unilever remains competitive and innovative [9]