CONSUMER giant
The firm is to split out its £6bn-plusturnover ice cream business, including mega-brands
The split will complete in 2025, with "all" options on the table after that - including a sale.
The decision came alongside an accelerated cost-cutting programme which will affect 7,500 jobs, as still relatively fresh CEO
The firm hopes to bring its cost base down by just shy of £700m.
The moves are thought to be influenced by the billionaire activist investor
Schumacher, who originally joined from a Dutch dairy giant last July, previously told investors the cosmetics and confectionery maker was not "reaching its potential" and the firm had "under-delivered".
In an update at the start of the year, he described the brand's competitiveness as "disappointing" and added that the company's "overall performance" needed to improve.
Investors cheered the moves, with the firm's shares up more than 3 per cent at the close yesterday, as did analysts.
"The division in question is noted for its lower growth compared to
(c) 2024 City A.M., source