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MarketScreener Homepage  >  Equities  >  Xetra  >  Beiersdorf Aktiengesellschaft    BEI   DE0005200000

BEIERSDORF AKTIENGESELLSCHAFT

(BEI)
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Real-time Quote. Real-time Tradegate - 08/21 02:05:30 pm
111.275 EUR   +1.02%
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Beiersdorf's deputy CEO to take top job from Jan. 1

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10/15/2018 | 07:43am EDT
FILE PHOTO: Nivea tins are seen on a production line at the plant of German personal-care company Beiersdorf in Hamburg

BERLIN (Reuters) - Beiersdorf, the maker of Nivea skin creams, is promoting current deputy chief executive Stefan De Loecker to the top job from Jan. 1, with a mandate to make the company more digitally savvy and expand internationally.

The group had said in June that Stefan Heidenreich, 55, who has been CEO since 2012, would step down at the end of 2019 or earlier, depending on when a successor was chosen.

At that time, De Loecker, a 51-year-old from Belgium, was named deputy CEO and put in charge of Beiersdorf's strategy.

De Loecker joined the company in 2012 as senior vice president Near East from British retailer Tesco , although he spent most of his career at food company Nestle, including in Switzerland, Germany and Russia.

Beiersdorf Chairman Reinhard Poellath said De Loecker was right for the job due to his focus on "growth and renewal".

"The supervisory board strongly supports the proposed concentration on consumers and consumer benefits, skin care, digitalisation, internationalisation, and sustainable growth," he said in a statement.

Heidenreich took over as CEO at a time when when Beiersdorf was losing market share to rivals like L'Oreal and profit margins were falling.

Under his leadership, the group has regained market share, introduced a new Nivea logo as part of his Blue Agenda strategy, focused on emerging markets and stripped out underperforming product lines, with premium products driving recent growth.

There has been media speculation that Heidenreich's departure might have been driven by a disagreement with the company's major shareholder over expansion into premium markets.

Beiersdorf has been extending the Blue Agenda strategy to seek to make its other businesses like La Prairie premium skin cream as strong as its Nivea products.

The Herz family controls Beiersdorf via its Maxingvest holding. Herz is co-owner of the coffee chain Tchibo, which owns a 51 percent stake in Beiersdorf.

Beiersdorf is due to report third-quarter sales on Oct. 30.

(Reporting by Emma Thomasson; editing by Thomas Seythal and Jane Merriman)

Stocks mentioned in the article
ChangeLast1st jan.
BEIERSDORF AKTIENGESELLSCHAFT 1.04% 111.3 Delayed Quote.20.83%
L'ORÉAL 1.99% 241.1 Real-time Quote.17.50%
NESTLÉ S.A. 0.82% 108.84 Delayed Quote.35.29%
TESCO PLC -0.65% 214.3 Delayed Quote.13.47%
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Financials (EUR)
Sales 2019 7 682 M
EBIT 2019 1 115 M
Net income 2019 772 M
Finance 2019 3 548 M
Yield 2019 0,64%
P/E ratio 2019 32,2x
P/E ratio 2020 30,1x
EV / Sales2019 2,79x
EV / Sales2020 2,62x
Capitalization 24 984 M
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Technical analysis trends BEIERSDORF AKTIENGESELLSCH
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Average target price 103,60  €
Last Close Price 110,10  €
Spread / Highest target 13,5%
Spread / Average Target -5,91%
Spread / Lowest Target -26,4%
EPS Revisions
Managers
NameTitle
Stefan de Loecker Chairman-Executive Board
Reinhard Pöllath Chairman-Supervisory Board
Dessi Temperley Chief Financial Officer
Michael Herz Member-Supervisory Board
Manuela Rousseau Member-Supervisory Board
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