Global news company Reuters has appointed Irishman Mr Niall FitzGerald, outgoing boss of consumer goods giant Unilever, as its next chairman.
Mr FitzGerald, who is taking early retirement as executive chairman of consumer products giant Unilever on September 30th, spent his career working through the ranks of Unilever , becoming the chief executive in 1996 and putting the firm on its "Path to Growth".
Early in 2000, FitzGerald launched a five-year plan to streamline Unilever and drive top-line sales and profit margins by focusing on its top-selling 400 brands in an effort to compete more effectively with rivals like Nestle and Procter & Gamble.
He heads up the Reuters board when it, too, is looking to chart a return to growth after a sharp industry downturn and a heavy slide in revenues over the past two years.
Cost-cutting has begun to boost profits but investors say the challenge is to ensure long-term revenue growth. Mr FitzGerald is already familiar with the turnaround plan, having served as a non-executive director of Reuters since January 2003.