FT News Briefing Discontent at Unilever
Jan 24, 2022
Tensions rise in Europe as major publishers call on the EU to intervene against Google's plan to phase out third-party cookies. Meanwhile, Unilever is facing internal strife after activist investor Trian Partners questioned its sustainability efforts, arguing for a return to profitability. On an exciting note, Sony is venturing into the electric vehicle market, aiming to integrate their entertainment tech into automotive design, promising unique sound experiences. The intersection of technology and sustainability sparks intriguing debates.
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Unilever's Crisis
- Unilever faces a crisis due to investor fury over a failed acquisition and its ESG branding.
- Activist investor Nelson Peltz's stake adds pressure amidst debates about the company's direction.
Mayonnaise Mockery
- Terry Smith, a major Unilever shareholder, criticized the company's focus on sustainability.
- He mocked their emphasis on "purpose" for products like Hellmann's mayonnaise.
Profitability over Acquisitions
- Terry Smith believes Unilever should prioritize improving existing business profitability.
- Some suggest selling ex-growth businesses like food to streamline their portfolio.