Unilever Plc (NYSE:UL) major shareholders are urging the consumer goods company to make some big changes, especially after its recently failed $68 billion bid for GlaxoSmithKline's (NYSE:GSK) consumer health business.
Bert Flossbach, founder and chief investment officer of Flossbach von Storch, one of Unilever's top 10 shareholders, says he wants the company to consider winding up, citing an interview with the fund manager, according to an FT report. Flossbach sees the possibility of running the grocery store under the Unilever (UL) name and spinning off other divisions.
Another incumbent identified in the top 20 called for the removal of Unilever chairman Nils Andersen and the appointment of a new chairman outside the board, according to the FT.
The shareholder comments come after reports last month that activist investor Trian Partners has acquired a stake in the consumer products company.
Unilever shares fell 14% on January 18 as investors reacted to GlaxoSmithKline's takeover bid for its consumer division. The company in question was formed in 2018 from the merger of the consumer assets of GSK and Pfizer (NYSE:PFE).
Also last month, Unilever (UL) is said to be planning to shed thousands of senior positions to speed up decision-making.