The Belgian Stefan De Loecker steps down as CEO of Nivea's parent company Beiersdorf. The North American CEO Vincent Warnery will replace him. Meanwhile, the cosmetics giant announced solid quarterly results.
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Beiersdorf, which produces both professional adhesives and Nivea, can not meet analysts' expectations: the decline in the sale of adhesives to the auto industry was too big to be offset by care products, especially since sales disappointing in that area as well.
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Just like many other companies, Nivea’s parent company, German Beiersdorf, was hit by a cyber-attack last year. However, its financial results show that the attack was rather easily overcome.
Growth in the FMCG market has a clear path: increase your penetration. Colgate, Nivea, Dove and Vim have achieved that the most on a global scale: they continuously expand their reach to new markets.
Turnover for German group Beiersdorf, parent company for Nivea among other brands, has dropped nearly 2 % in the first quarter. The company points to exchange rate fluctuations, which had a sizeable negative effect.
Nivea and Eucerin sales have helped German Beiersdorf achieve a good year, with a 6.4 % turnover growth and a higher post-tax profit.