Unilever once had a fearsome reputation as an acquisitive consumer goods group, one of the most powerful and commercially-minded brand managers in the world. Its management was respected by the financial community, whose main complaint was that the group provided too much information.

Over the past few years, however, growth has slowed and the Anglo-Dutch group recently missed its self-imposed target of a 5% to 6% improvement in sales. In addition, it has been dogged by the runaway popularity of the Atkins diet and the corresponding decline in sales of its Slimfast products. At the top, Niall Fitzgerald, its well-respected co-chairman, is to leave later this year to join Reuters, the media and information group.