info@ceoworld.biz
Friday, March 29, 2024
CEOWORLD magazine - Latest - Banking and Finance - Unilever Boosts Stock Buyback Program

Banking and Finance

Unilever Boosts Stock Buyback Program

Unilever Plc (LON: ULVR) saw its shares rise as the consumer products giant announced an expansion of its stock buyback program and acknowledged the need for improvement under the leadership of its CEO.

The company revealed plans for a new $1.61 billion share repurchase program set to commence in the second quarter. This follows the completion of its previous $3.22 billion stock buyback in 2023.

Despite challenges, Unilever reported a 3% decline in fourth-quarter revenue to $15.3 billion, attributed to shrinking market share in North America and Europe. Full-year revenue also dipped by 0.8%.

CEO Hein Schumacher, who assumed leadership in January 2023, acknowledged the company’s disappointing competitiveness and emphasized the need for overall performance improvement. Unilever initiated a “Growth Action Plan” in October, focusing on enhancing growth quality, increasing productivity and simplicity, and strengthening performance metrics.

Schumacher highlighted that while the turnaround efforts are still in their early stages, Unilever is swiftly and urgently working to transform into a consistently high-performing business.

 

Have you read?
Ranked: Countries with Highest (and Lowest) Rates of Infant Mortality, 2024.
Ranked: Countries That Waste the Most Food In The World, 2024.
Ranked: Countries with highest malaria death rates in the world, 2024.
Ranked: These are the countries with the highest (and lowest) death rate from malnutrition, 2024.
Revealed: 100 Best-Selling Mobile Phones of All Time.


Add CEOWORLD magazine to your Google News feed.
Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.

This report/news/ranking/statistics has been prepared only for general guidance on matters of interest and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, CEOWORLD magazine does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.


Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine' prior written consent. For media queries, please contact: info@ceoworld.biz
SUBSCRIBE NEWSLETTER
CEOWORLD magazine - Latest - Banking and Finance - Unilever Boosts Stock Buyback Program
Anna Siampani
Anna Siampani, Lifestyle Editorial Director at the CEOWORLD magazine, working with reporters covering the luxury travel, high-end fashion, hospitality, and lifestyle industries. As lifestyle editorial director, Anna oversees CEOWORLD magazine's daily digital editorial operations, editing and writing features, essays, news, and other content, in addition to editing the magazine's cover stories, astrology pages, and more. You can reach Anna by mail at anna@ceoworld.biz