Unilever 2009 Annual Report Download - page 7

This is particularly pleasing given the state of the global economy.
A year ago when I was drafting my statement for our 2008
Annual Report there was little cause for business to be optimistic.
The world was in one of the most serious economic downturns
that had ever been experienced. Unemployment was high and
rising, consumer confidence low.
Much of Unilever’s ability to weather this storm so well is due
to Paul Polman’s leadership. He has sharpened the strategy,
improved execution in the market place, sharpened the emphasis
on innovation and injected a new sense of energy and urgency
into the Group. Our investors have recognised this. Unilever
was ranked fifth on total shareholder return in its peer group
of 21 companies.
Paul Polman was not the only addition to the Boards in 2009.
We also welcomed three new Non-Executive Directors – Louise
Fresco, Ann Fudge and Paul Walsh. Their arrival has strengthened
both the breadth of experience and the diversity of the team.
Louise Fresco is Professor of International Development and
Sustainability at the University of Amsterdam and a visiting
Professor at Stanford University. Her deep knowledge of
agriculture and sustainability will be of great value as we prepare
ourselves to operate in a world where both food and water will
become increasingly scarce.
Ann Fudge is a non-executive director at Novartis and at General
Electric. Ann served as the chairman and chief executive officer
of Young & Rubicam Brands from 2003 to 2006. Prior to joining
Young & Rubicam, she worked at General Mills and at Kraft
Foods. Ann has great knowledge and experience of branded
consumer goods and, particularly, the food industry.
Paul Walsh is chief executive officer of Diageo and a
non-executive director of FedEx Corporation. He is a member
of the Business Council for Britain, and chairman of the Scotch
Whisky Association. Paul is one of Britain’s most respected
business leaders.
Ann and Paul sit on the Remuneration Committee, bringing its
composition in line with the UK Combined Code on Corporate
Governance, which states that this committee should comprise
at least three independent non-executives.
I am also delighted to announce that The Rt Hon Sir Malcolm
Rifkind MP has agreed to be nominated for election as a
Non-Executive Director at the 2010 AGMs. We believe that
Sir Malcolm with his broad background in international affairs
will be a valuable addition to the Boards.
Leon Brittan, Wim Dik and Narayana Murthy will be retiring
as Non-Executive Directors at the end of our 2010 Annual
General Meetings (AGMs). Narayana and Wim have served on
our Corporate Responsibility and Reputation (CRRC) and Audit
Committees respectively, and Leon as Chairman of the CRRC. On
behalf of our Boards, I take this opportunity to thank them all for
their individual contributions and service since their appointments.
At the AGMs in May 2010 we intend to propose Jean-Marc Huët
for election to the Boards. Jean-Marc took over as Chief Financial
Ofcer in February 2010 following the departure of Jim Lawrence.
The first quarterly dividend will be paid on 17 March. This change
to quarterly dividends will result in more frequent payments to
shareholders which I hope you will find helpful.
Finally, on behalf of the Boards, I would like to extend my sincere
thanks to all of Unilever’s 163,000 employees across the world.
They have had to cope with difficult economic conditions
externally and significant change internally. Yet they have still
managed to deliver an excellent set of results.
Michael Treschow
Chairman
Chairman’s
statement
Michael
Treschow
Chairman
I am delighted to be able to report that Unilever
has had a good year. We have seen solid
progress on our top line and an improvement
in underlying operating margin.
Report of the Directors Overview
4 Unilever Annual Report and Accounts 2009