Unilever's General Meeting And Independent Meeting Approve Ice Cream Business Divestment And New Directors

PT Unilever Indonesia Tbk held an Extraordinary General Meeting of Shareholders (EGM) and an Independent General Meeting of Shareholders today. During these meetings, shareholders approved two main proposals: the sale of the Company’s Ice Cream business to PT The Magnum Ice Cream Indonesia and the restructuring of the Board of Directors.

Benjie Yap, President Director of PT Unilever Indonesia, stated, “Today’s EGM and Independent General Meeting have approved the divestment of the Ice Cream business and the restructuring of the Board. This strategic decision reflects our commitment to strengthen the Company’s position and promote sustainable long-term growth. I would like to thank the independent shareholders for their support and approval of the Company’s plan to divest the Ice Cream business.”

Ice Cream Business Sale

The total value of the Ice Cream business sale plan (excluding VAT) is Rp7,000,000,000,000 (seven trillion Rupiah). In the short term, this transaction is expected to provide immediate benefits to shareholders, as the Company plans to distribute the sale proceeds as cash dividends once the transaction is completed. Additionally, this transaction is anticipated to strengthen the Company’s cash position and reduce reliance on external funding.

After the transaction is completed, the Company will focus on its core businesses: Home and Personal Care (which includes Home Care, Beauty & Wellbeing, and Personal Care) and Nutrition. “Unilever Indonesia aims to streamline operations, enhance efficiency, and drive innovation by refocusing on our core business areas. This strategic approach allows for better resource allocation, strengthens our market position, and ultimately improves financial performance,” explained Benjie.

Amaryllis Esti Wijono, the General Manager of Ice Cream Indonesia, stated, “This marks an exciting new chapter for our ice cream business in Indonesia, allowing us to concentrate more on the ice cream industry. With increased agility and a more dedicated approach, we are well-positioned to seize significant growth opportunities in this dynamic sector. We remain committed to driving innovation and delivering exceptional products to meet the evolving needs of our consumers.”

New Board Composition

The company also announced a leadership change. The Extraordinary General Meeting today approved the new Board of Directors. The newly appointed directors are Mr. Alejandro Meinardo Jr Santos Concha, Ms. Vandana Suri, and Mr. Neeraj Lal.

Alejandro Meinardo Jr Santos Concha has a strong background in sales and general management, with 30 years of experience in the Philippines, Myanmar, and Indonesia. He began his career at Unilever Philippines and has held various positions in General Trade, Modern Trade, Customer Marketing, Brand, and Operations. He started his journey in Indonesia as the Ice Cream General Manager and will take on the role of VP Customer Development (Sales) Indonesia on August 1, 2024.

Vandana Suri is an experienced marketing leader known for building large-scale brands and developing new market segments. With over 20 years of career experience, she has led major categories like Skin Care and Laundry. Recently, Vandana served as the Global Brand Vice President for Pond's, where she successfully led the rebranding and relaunch of the Pond's brand in 2023. She joined Unilever over 12 years ago, starting at Hindustan Unilever Limited in 2011, and has worked across all major divisions of the company, including Home Care, Beauty & Wellbeing, and Nutrition.

Tag: Unilever Indonesia