LONDON Feb 24 Unilever said the shock
of Kraft Heinz's opportunistic approach had jolted it to
re-examine its strategy, and all aspects of the consumer goods
giant's business were up for review to increase shareholder
Chief Financial Officer Graeme Pitkethly said the Kraft bid
had created an "inflexion point", and had highlighted the
importance of achieving a balance between long-term sustainable
value, which it had prioritised, and short-term delivery.
"It certainly was a trigger moment for Unilever, and we will
not waste it," he said at the CAGNY conference in New York in a
presentation streamed on its website.
The U.S. company walked away from a fight with Unilever on
Sunday, just two days after its $143 billion bid - and
Unilever's rejection - was made public.
Unilever announced a far-reaching review on Wednesday,
seeking to show shareholders it could realise the value in the
business spotted by its rival.
Pitkethly said the review would include options for the
group's portfolio, organisation, cost structures, balance sheet
and use of cash.
(Reporting by Paul Sandle in London and Siddharth Cavale in
Bangaluru; editing by Kate Holton)