Campbell Soup and activist fund Third Point reach agreement after proxy fight

USA – Campbell Soup and activist investor Dan Loeb’s Third Point have announced that they have reached an agreement that will give the hedge fund two seats on the company’s board and a role in the company’s search for a new chief executive. This will see Campbell increase its Board from 12 to 14 members…

Univar secures food ingredients distribution deal with Tata Chemicals in Canada

CANADA – Global chemical and ingredient distributor, Univar and India based Tata Chemicals have announced a new distribution agreement for fermented, digestive health ingredients in Canada. Univar will be the exclusive distributor of Tata’s Fossence and Gossence prebiotic dietary fiber portfolio of ingredients for the Canadian market. These fibers are used in a wide range…

Unilever Ghana launches livelihood empowerment project for women

GHANA – Unilever Ghana has launched an entrepreneurial empowerment programme in Upper West (UW) to enhance financial stability among women. According to GNA, Unilever Ghana in collaboration with ProNet North has trained women in basic bookkeeping, financial management and savings principles under an Indian ‘Shakti’ business model. The model seeks to create livelihood opportunities for…

Plant Based Foods Association launches new plant-based certification label

USA – The US based The Plant Based Foods Association (PBFA) has unveiled a new initiative, Certified Plant Based that focuses on plant-based alternatives to animal-based foods. The programme which it claims to be the first and only plant-based food certification specifies the criteria required to make a certified plant-based food claim and has NSF…

Flipkart CEO Binny Bansal resigns after personal misconduct investigation

INDIA – Walmart owned Flipkart’s Chief Executive Officer (CEO), Binny Bansal has resigned from the company following an investigation into an alleged ‘serious personal misconduct’. According to the US retail giant, Binny has strongly denied the allegation and though the investigation did not find evidence to assert the allegations, it revealed a lack of transparency…

Unilever endorsed as Certified Africa Top Employer for the fourth time

AFRICA - British-Dutch transnational consumer goods company, Unilever has been recognized as the number one Top Employer in Africa at the just concluded Top Employer Institute award ceremony held in Johannesburg, South Africa. According to ThisDay, this is the fourth time the company has been named number one Top Employer in Africa, highlighting its commitment…

Walmart to offload 570 office workers onto outside company

USA – Walmart, the American multinational retail corporation is transferring 570 workers from finance and accounting department to an outside company which will help in the retailer’s financial operations. According to a New York Times report, willing workers will be hired by New York based global professional services firm, Genpact and will be based in Bentonville,…

Unilever Ghana names Gladys Amoah as new Managing Director

GHANA – Unilever Ghana, the country’s largest producer and retailer of consumer goods has appointed Mrs Gladys Amoah as the new Managing Director effective November 1, 2018. Prior to her appointment, the new MD was the Customer Development Director of Unilever Ghana, a position served since 1 November 2016, according to GNA. She succeeds Mr…

Tiger Brands expects 30% decline in full year earnings with recovery from listeriosis

SOUTH AFRICA – Tiger Brands has revised its profit warning and now expects headline earnings per share to fall by between 25% and 30% as the company struggles to recover from the listeriosis tussle, reports Business Day. This is a revision from the 22% to 37% range it had earlier forecast for the year to…

South Africa’s retailer Checkers partners Mr D Food for home liquor deliveries

SOUTH AFRICA – Checkers, a supermarket chain owned by Shoprite has entered an exclusive partnership with Mr D Food for delivery of alcohol to customers’ homes, reports IOL Business. By the end of the year, customers will be able to order their beer or wine at in-store prices from Mr D Food app which will…