Paul Polman, CEO of consumer products multinational Unilever, whose brands include Dove soaps and Lipton tea, is retiring at the end of the year.
The Anglo-Dutch company announced Polman's retirement on Thursday and said he will be succeeded from Jan. 1 by Alan Jope, currently president of Unilever's Beauty and Personal Care division.
The announcement comes months after Unilever, under pressure from shareholders, reversed a decision to consolidate its headquarters in Rotterdam. The company has two head offices, in the Dutch city and in London.
Unilever Chairman Marijn Dekkers has paid tribute to Polman as "an exceptional business leader" who helped "define a new era of responsible capitalism" in his decade leading the company.
Polman will help Jope settle into his new role during the first half of next year.