Unilever CEO Hein Schumacher to step down
Investing.com -- Unilever PLC (LON:ULVR) said on Tuesday that its Chief Executive Officer Hein Schumacher, is set to leave the company, in a surprise move.
The consumer goods giant said that Schumacher's departure will take effect on May 31 and that Fernando Fernandez, the current Chief Financial Officer, has been named his successor.
Schumacher's tenure at Unilever has been relatively brief, having taken over as CEO from Alan Jope in July 2023. Despite Schumacher's departure, Unilever has stated that its guidance for 2025 remains unchanged.
Fernandez brings considerable experience to his new role. Prior to serving as the company's Chief Financial Officer, he was the president of Unilever's beauty and wellbeing unit.
'The Board has been impressed with Fernando's decisive and results-oriented approach and his ability to drive change at speed. He partnered in the development of the GAP and in driving the productivity programme." Unilever Chairman Ian Meakins said in a press release.
"He has a strong track record of performance and portfolio management, a love of brands and a profound knowledge of Unilever's operations," he added.
The company also added that Fernando will receive fixed pay of Euro 1,800,000 and will be eligible to participate in an annual bonus and Performance Share Plan awards, in line with Unilever's policy.
An internal and external search process has been initiated to appoint a permanent CFO, while Srinivas Phatak, currently Unilever's Deputy CFO will serve as acting CFO.
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Yahoo
24 minutes ago
- Yahoo
Robert G. Brown, a Founder of Spar Group, Inc., (SGRP) Announces His Voting Plans for the June 12, 2025, Annual Meeting of Shareholders
Palm Beach Gardens, Florida--(Newsfile Corp. - June 10, 2025) - Robert G. Brown, hereinafter referred to as "Mr. Brown", holding directly and indirectly 6,469,683 shares of common stock, $0.01 par value per share ("Common Stock"),1 in SPAR Group, Inc., a Delaware corporation (the "Company"), who is a founder of the Company as well as past CEO and Chairman, hereby announces how he plans to vote, and reasons therefor, at the upcoming annual meeting of the shareholders of the Company to be held on June 12, 2025 (the "2025 Annual Meeting"). This is not a solicitation of authority to vote your proxy. Please DO NOT send your proxy card to Mr. Brown who is not able to vote your proxies, nor does this communication contemplate such an event. Mr. Brown urges shareholders to vote in person or by proxy at the 2025 Annual Meeting in accordance with the instructions provided by the Company in the Proxy Statement filed with the SEC on May 23, 2025 (the "Proxy Statement") and the Proxy Card thereof (the "Proxy Card"). The following information should not be construed as investment advice. Please read the important notices at the end of this document. Reasons for Mr. Brown's votes: On June 3, 2024, the price of the Company's Common Stock was $2.97. On May 29, 2025, the price of the Company Common Stock was $1.02. In 2024 and 2025, the Company's management, with approval of the board of directors of the Company (the "Board"), took various actions (including the sale of profitable subsidiaries of the Company) that have resulted in a 25.1% reduction in revenue from 2023 ($262,747) to 2024 ($196,814) (figures in thousands).2 The Board has approved cash compensation for the Board for the fiscal year of 2025 in an aggregate of almost $1,000,000.3 The Company failed to hold an annual shareholder meeting in 2024.4 The Company failed to file an annual report on Form 10-K in a timely manner for the fiscal year of 20245 and was notified by NASDAQ that the Company was at risk of being delisted.6 The Compensation Committee of the Board approved a $2,264,877 summary compensation package for the CEO for the year of 2024, an increase from $1,164,551 for the year of 2023, $612,613 for the year of 2022, and $304,086 for the year of 2021.7 The Company is in violation of various provisions of its bylaws, as amended through the date hereof (the "Bylaws").8 The Company refused to allow other candidates for the Board to be put into the proxy to give shareholders a choice among candidates for directors.9 The current directors voted to allow only those currently serving as directors to be included as candidates for election as directors in the Proxy Statement for the 2025 Annual Meeting, thereby ensuring the shareholders do not have a choice of directors.10 There is a lack of focus on increasing the price of the Company's Common Stock to improve shareholder value. The Company did not hold an annual shareholders meeting in 2024 and is holding the 2025 Annual Shareholders meeting on June 12, 2025.11 The Company has provided no guidance of expected Earnings Per Share (EPS) in 2025. In the fiscal year of 2024, the Company had a net loss attributable to SPAR Group, Inc., of $4,412,000 from a profit of $5,742,000 in 2023.12 The Bylaws were changed in 2022 making them shareholder unfriendly and out of compliance with best practices as recommended by Glass-Lewis and Institutional Shareholder Services (ISS).13 These include: (1) requirements that 75% of the shareholders are required to call a meeting of the shareholders14 versus a best practice recommended by Glass-Lewis or ISS, (2) allowing the CEO to have 100% of the voting authority of the Board in certain situations, and (3) prohibiting directors who have prior associations with the Company, such as employees, advisors or former executives, from serving as Committee Chairman or the Chairman.15 Only directors without any prior association with the Company are permitted to serve in these roles.16 The Governance Committee of the Board has ignored past shareholder advisory votes on maintaining the current auditors.17 The Board has failed to publicly disclose various legal disputes with shareholders.18 The Board recommended that shareholders approve a sale of the Company transaction approved by the Board in August 202419 (such transaction, the "Highwire Merger"), without validating if the prospective buyer could finance the transaction. The Highwire Merger agreement precluded the Company from taking any competing sale or merger actions until May 30, 2025.20 The Highwire Merger failed and by May 30, 2025,21 the price of the Company's Common Stock has declined over 60% from just prior to the date of the announcement of the Highwire Merger.22 There has been no accountability for this failure of the Highwire Merger, and the financial advisory firm involved in this transaction has not been terminated and is still under contract with a guaranteed minimum payment for a future transaction. The CEO of the Company also is the Chairman of Qantm Creative, a supplier to the Company.23 His wife, Jean Matacunas, is the CEO of Qantm Creative.24 Mr. Brown believes that the shareholders' interests would be better served and advanced by the following actions: A 6,000,000 share buyback. A $.02/per share quarterly dividend. A review by the Board of the A&R Bylaws and the best practices recommended by Glass Lewis and ISS to determine if the current A&R Bylaws are in the best interest of the shareholders. A review of Board compensation to determine if making the compensation partly dependent (e.g. 50% of compensation) on the share price would be in the best interest of the shareholders. A review by the Compensation Committee to determine if the shareholders would be more effectively served by having a high proportion of management's compensation based on delivering shareholder value (as evidenced by the stock price) and positive net earnings. The current Board has had ample opportunity to correct many of the Company's problems and to take many other actions beneficial to shareholders, but has failed to do so. Mr. Brown will vote at the 2025 Annual Meeting in person or by proxy as follows: PROPOSAL 1 - ELECTION OF DIRECTORS: AGAINST the election of Ms. Linda Houston (Chairperson of the Compensation Committee), Mr. John Bode (Chairman of the Audit Committee) and Mr. Michael R. Matacunas to the Board; FOR the election of Mr. James R. Brown and Mr. Panagiotis Lazaretos to the Board. PROPOSAL 2 - AGAINST the ratification, on an advisory basis, of the use of BDO USA, P.C. as the independent registered accounting firm for the corporation and its subsidiaries for the year ending December 31, 2025. PROPOSAL 3 - AGAINST the advisory vote on the compensation of the named executive officers. PROPOSAL 4 - FOR A ONE (1) YEAR REVIEW PERIOD in respect of the advisory vote on whether the corporation should request an advisory vote from its stockholders respecting compensation of the named executive officers every one (1), two (2) or three (3) years (i.e., "Say on Frequency"). PROPOSAL 5 - AGAINST the authorization of the 2025 Stock Compensation Plan. IMPORTANT NOTICES: THIS IS NOT A PROXY SOLICITATION AND NO PROXY CARDS WILL BE ACCEPTED. PLEASE DO NOT SEND YOUR PROXY TO MR BROWN. TO VOTE YOUR PROXY, PLEASE FOLLOW THE INSTRUCTIONS ON YOUR PROXY CARD. THE FOREGOING INFORMATION MAY BE DISSEMINATED TO COMPANY SHAREHOLDERS VIA TELEPHONE, U.S. MAIL, E-MAIL, CERTAIN WEBSITES AND CERTAIN SOCIAL MEDIA VENUES, IN ADDITION TO PRESS RELEASE. THIS DOCUMENT SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, OR AS A SOLICITATION OF AUTHORITY TO VOTE YOUR PROXY, OR A RECOMMENDATION OF HOW TO VOTE. THE COST OF DISSEMINATING THE FOREGOING INFORMATION TO SHAREHOLDERS IS BEING BORNE ENTIRELY BY MR. BROWN. THE INFORMATION CONTAINED HEREIN HAS BEEN PREPARED FROM SOURCES BELIEVED RELIABLE BUT IS NOT GUARANTEED BY MR. BROWN AS TO ITS TIMELINESS OR ACCURACY, AND IS NOT A COMPLETE SUMMARY OR STATEMENT OF ALL AVAILABLE DATA. THIS DOCUMENT IS FOR INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSTRUED AS A RESEARCH REPORT. Disclaimers The views expressed herein are those of Mr. Brown as of the date referenced and are subject to change at any time based on market or other conditions. These views are not intended to be a forecast of future events or a guarantee of future results. These views may not be relied upon as investment advice. The information provided in this material should not be considered a recommendation to buy or sell any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. This document is rendered solely for informational purposes. This filing is in connection with the planned vote by Mr. Brown (which he reserves the right to modify without notice) at the June 12, 2025, meeting of the Company's shareholders called by the Board. It is not a recommendation for how any shareholder's shares should be voted (for, against or abstain) in connection with any of the directors or proposals set forth in the Company's proxy statement. It is not an attempt to either appoint or remove any director. Press inquiries: please contact Robert Brown via email at rbrown6@ # # # 1 Robert G. Brown, Statement of Changes in Beneficial Ownership (Form 4/A) (May 12, 2025). 2 SPAR Grp., Inc. Annual Report 33 (Form 10-K) (May 16, 2025), see sections Consolidated Statements of Operations and Comprehensive (Loss) Income. 3 SPAR Grp., Inc., Schedule 14A 25 (Form DEF14A) (May 23, 2025). 4 SPAR Grp., Inc., Current Report Exh. 99.1, (Form 8-K) (Jan. 3, 2025). 5 SPAR Grp., Inc., Current Report (Form 8-K) (Apr. 23, 2025). 6 SPAR Grp., Inc., Current Report Exh. 99.1 (Form 8-K) (Apr. 23, 2025). 7 SPAR Grp., Inc., Schedule 14A 23 (Form DEF14A) (May 23, 2025). 8 Amended and Restated Bylaws, adopted effective as of January 18, 2022, attached as Exhibit 3.3 to the Company's Current Report (Form 8-K) (Jan. 25, 2022) (hereinafter referred to as the "A&R Bylaws") (Mr. Brown alleges (x) that the Company's failure to have a Board of 7 members for the calendar year of 2024 was a violation of Section 3.01 of the A&R Bylaws; (y) the terms of the written letter of resignations for directors was changed to terms other than as specified in Section 3.11 of the Bylaws; and (z) Section 3.09 provides that the shareholders may remove a director, but the Board requires each director to execute a resignation letter that permits other members of the Board to remove such director). 9 SPAR Grp., Inc., Schedule 14A (Form DEF14A) (May 23, 2025). 10 SPAR Grp., Inc., Schedule 14A (Form DEF14A) (May 23, 2025). 11 SPAR Grp., Inc., Current Report, Exh. 99.1, (Form 8-K) (Jan. 3, 2025); SPAR Grp., Inc., (Form 8-K) (Mar. 11, 2025). 12 SPAR Grp., Inc., Annual Report. 33 (Form 10-K) (May 16, 2025), see Consolidated Statements of Operations and Comprehensive (Loss) Income. 13 2022 Policy Guidelines, Glass Lewis, 27 (last visited May 30, 2025) United States Proxy Voting Guidelines, Glass Lewis, 33 (Jan. 9, 2025) 14 A&R Bylaws Sections 2.02 and 2.11(a). 15 A&R Bylaws Sections 3.04, 4.04 and 5.05. 16 Id. 17 SPAR Grp., Inc., Current Report (Form 8-K) (July 12, 2022) (Proposal (ii), the ratification of the appointment of BDO USA, LLP, as the independent registered accounting firm received 7,613,862 votes against, and only 6,925,283 votes "for"). 18 Mr. Brown currently is in a dispute with the Company over certain provisions of the Change of Control, Voting and Restricted Stock Agreement, dated as of January 28, 2022 (Exhibit 10.1 of the Company's Current Report Form 8-K filed Jan. 28, 2022), having alleged that the Company is in breach of various terms therein. 19 SPAR Grp., Inc., Current Report (Form 8-K) (Aug. 30, 2024). 20 SPAR Grp., Inc., Current Report (Form 8-K) (Aug. 30, 2024), (Exh. 2.1: Agreement and Plan of Merger, by and among Highwire Capital LLC, Highwire Merger Co 1, Inc., and SPAR Group Inc. (the "Merger Agreement"), Section 7.02 and Covenants in Section 5.01). 21 SPAR Grp., Inc., Current Report (Form 8-K) (May 23, 2025). 22 SPAR Grp., Inc., Current Report (Form 8-K) (June 5, 2024) (announcing Letter of Intent with Highwire); SPAR Group, Inc. (SGRP) Stock Declines While Market Improves: Some Information for Investors, Zacks, (last visited May 30, 2025) (year-to-year decline of approximately 60%). 23 Mike Matacunas, LinkedIn, (last visited June 2, 2025); see also About Us, Qantm Creative (last visited June 2, 2025). 24 About Us, Qantm Creative (last visited June 2, 2025). To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
4 hours ago
- Bloomberg
Former Lehman Banker Benoît d'Angelin Won't Waste a Crisis
Hi, it's Pamela Barbaglia in London, where I recently caught up with veteran investment banker Benoît d'Angelin to get his thoughts on the latest market upheaval. Elsewhere, Blackstone has big spending plans in Europe and Diageo is looking at options for its stake in an IPL cricket franchise. Today's top stories
Miami Herald
5 hours ago
- Miami Herald
Aspire Biopharma Holdings, Inc., Announces Michael C. Howe - With Decades of Experience at Leading and Building Brands in the Healthcare and Consumer Space - To Be Its New Chief Executive Officer
Michael Howe - who currently serves as an Independent Board Member - to assume CEO role on June 10, 2025 Michael's career spans nationally recognized brands such as MinuteClinic, Procter & Gamble, PepsiCo, CEO of Arby's, and as an early-stage investor/board member in healthcare and software businesses HUMACAO, PR AND NEW YORK, NY / ACCESS Newswire / June 10, 2025 / Aspire Biopharma Holdings, Inc. (Nasdaq:ASBP) ("Aspire" or the "Company"), a developer of a multi-faceted patent-pending drug delivery technology, today announced that its Board of Directors has elected Michael C. Howe, as the Company's new chief executive officer. The Board selected Michael Howe to be CEO based on his proven track record of hands-on success during his more than four decades of experience with leading brands and early-stage companies, and his recognized leadership qualities. Kraig Higginson, who has stepped down as CEO and Chairman of the Board, will remain with the Company and serve as Executive Chairman of the Board. Michael Howe is a visionary C-level executive with a proven record of driving transformative success across diverse industries. With a deep understanding of market trends, consumer behavior, and innovative brand positioning, Howe has consistently demonstrated his ability to foresee and shape consumer trends, leading to the creation of groundbreaking operational strategies. His career has been marked by his ability to build and strengthen nationally recognized brands with companies such as MinuteClinic, Procter & Gamble, PepsiCo and Arby's. His strategic leadership has consistently delivered significant growth and financial success, from start-ups to multinational corporations. His healthcare leadership and expertise in creating innovative consumer focused brands was most effectively demonstrated in his leadership of MinuteClinic, a network of board-certified health providers offering high-quality, team-based care services. Howe joined MinuteClinic in June 2005 with 19 clinics in two markets as the brand struggled to define a clear national expansion strategy. Within 15 months, Howe added more than 100 clinics in 13 markets and facilitated the sale of the company to CVS in September 2006, which delivered a nearly sixfold return for investors. He stayed with CVS as CEO of MinuteClinic for 2 additional years leading the national expansion to more than 530 clinics. Since 2022, Howe has served as a Co-founder and CEO of The Good Clinic (TGC), which offered a holistic care approach to primary healthcare services, integrating functional medicine, genetic testing, technology, alternative treatments, and nutrition. Howe is now leading the funding and expansion to relaunch the TGC concept under the newly formed First Choice Healthcare Solutions. Since 2021, he has also served as an independent director for P1 Dental Partners, an Indianapolis-based, PE-funded dental services organization. "Michael is a seasoned strategist with a track record of driving sustainable growth through innovation, and we have every confidence in his ability to lead Aspire during this important time," said Kraig Higginson, Executive Chairman of Aspire. "He brings meaningful expertise in scaling differentiated platforms and has a deep understanding of the health and wellness sector - making him uniquely suited to serve as Aspire's next CEO. I have worked closely with Michael over the past six months as a fellow board member during which time his contributions and insights have confirmed the excellent qualities he brings to the role. Together with the entire Board, I look forward to working with him." On his appointment, Howe said, "I am honored to be named as CEO of Aspire. I am grateful to our Executive Chairman, Kraig Higginson for his commitment, leadership and passion, and to the members of our Board for their leadership, particularly in these recent months, and for the confidence they have placed in me to lead our business." Howe continued "Aspire has a powerful and differentiated drug delivery platform, is engaged in an important clinical trial which could support a submission to the FDA via the 505(b)(2) pathway, and has the opportunity to generate early revenue upon the launch of its novel pre-workout supplement, both of which are expected to occur in 2025. I am eager to build upon the work the entire Aspire team has been doing to position our business for the future and create value for our shareholders over the long-term." Higginson added, "It has been a privilege to lead Aspire. I am proud of what we have accomplished, and I want to express my thanks to the many team members who, through their hard work and commitment to the company, have made our success possible. From the going public process, to commencing the first FDA clinical trials of our high-dose aspirin, to preparing for the launch of our innovative pre-workout product, BUZZ BOMB™, now is the right time to transition the leadership of Aspire to Michael. I believe the Company and shareholders will benefit from his experience as a strategic thinker with a laser focus on capturing current market and operational opportunities." About Michael C. Howe A successful growth-oriented CEO with 40+ years of consumer and healthcare experience. Howe has established a proven track record of leading and building successful consumer focused businesses across several different business sectors including consumer goods, fast food restaurants, SaaS products, and innovative healthcare companies. He began his career at Procter & Gamble with positions in sales and marketing. He then joined PepsiCo in their fast-food division with operational roles with the KFC brand. Five years later, he joined Arby's as a senior operational executive, subsequently rising to the position of President and CEO, growing the brand's revenue by 25% in just 3 years. After a successful term as CEO of Arby's, Howe joined MinuteClinic in June 2005 and within 15 months orchestrated the sale of the company to CVS in September 2006, where he remained for 2 additional years leading the national expansion. After leaving CVS in 2008, he founded Howe & Associates, which focused on supporting start up and early- stage companies in their expansion processes, as an angel investor, board member, and / or executive, leading 11 companies to a successful financial exit. Howe earned both his accounting and business degrees from the University of Minnesota, Duluth after serving 4 years in the U.S. Air Force. About the Aspire Targeted Oral Delivery Platform Aspire's sublingual delivery technology has been developed using our patent-pending methodology, and "trade secret" process. The technology's new mechanism of action allows for rapid sublingual absorption and entry into the bloodstream of supplements and other substances. The benefits of "rapid absorption" are to provide rapid impact in more precise quantities. About Aspire Biopharma, Inc. Headquartered in Humacao, Puerto Rico, Aspire Biopharma has developed a disruptive technology through a Novel Soluble Formulation which can deliver supplements and drugs rapidly and precisely. For more information, please visit Safe Harbor Statement Certain statements made in this communication are "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may generally be identified by the use of words such as "estimate," "projects," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "would," "should," "future," "propose," "potential," "target," "goal," "objective," "outlook" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the financial position, business strategy and the plans and objectives of management for future operations. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Aspire's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of the parties, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Aspire Biopharma Holdings, Inc. ContactTraDigital IRKevin McGrath+1-646-418-7002kevin@ SOURCE: Aspire Biopharma Holdings, Inc.
