Paulus Gerardus Josephus Maria Polman, KBE[1] (born 11 July 1956[2]) is a Dutch businessman and author. He was the chief executive officer (CEO) of the British/Dutch consumer goods company Unilever.[3] Polman is also the co-author (with Andrew Winston) of Net Positive: How Courageous Companies Thrive by Giving More Than They Take.[4]
While he was the CEO of Unilever from 2009 to 2019, he set an ambitious vision to fully decouple business growth from its overall environmental footprint and increase the company’s positive social impact through the Unilever Sustainable Living Plan.[5][6] During Polman's term, he procured a return vastly superior to rivals and more than double that of the FTSE index.[7] In 2018, the Financial Times called Polman a "standout CEO of the past decade."[8]
In 2019 Polman, alongside Jeff Seabright, former Chief Sustainability Officer (C.S.O.) of Unilever, co-founded a new venture named Imagine to help businesses "eradicate poverty and inequality, and stem runaway climate change".[9] Imagine Consultancy was purchased by Systemiq, an environmental consultancy firm focused on essential system change, of which Polman is a board member and major shareholder, in 2022.[10]
Polman was an early proponent of Net Positive investing, through which he invests in for-profit companies, whose mission is to deliver both high impact and financial returns. Polman sits on the Founders Board of TPG Rise, a $7 billion social-impact fund, alongside Bono and Jeffrey Skoll.[11] Polman is also the founding Co-Chair of EQT Future, a €3 billion long-hold impact fund, alongside Jacob Wallenberg.[12] Polman is also an active Venture Capital investor having participated in several high profile fundraises for climate and mission-focused companies.[13] As a result of his work championing causes around climate change, inequality and sustainability, Polman has become a prominent global figure in the push for more responsible business.[14]
Early life and education
Polman was born and raised in Enschede, Netherlands, in a Catholic family with three brothers and two sisters. His father was a tyre company executive and his mother was a former schoolteacher.[15]
He initially hoped to study medicine but was not selected through the medical school lottery.[15] He instead attended the University of Groningen, graduating with a Bachelor of Business Administration and a Bachelor of Arts in 1977.[16]
In 1979, he completed a master’s degree in economics and an Master of Business Administration (MBA) in finance and international marketing at the University of Cincinnati.[17]
Polman received an honorary doctorate from the University of Groningen, in June 2014 during its 400th anniversary celebrations.[18]
In May 2018, he received a second honorary doctorate from George Mason University, where he also delivered the commencement address speaking on social inclusion, responsibility, and collective action.[19]
Career
Procter & Gamble
Polman worked for Procter & Gamble for 27 years, starting in 1979 as a cost analyst, becoming managing director of P&G U.K. from 1995 to 1998, president of global fabric care from 1998 to 2001, and group president for Europe in 2001.[20]
Nestlé
Polman then joined Nestlé in 2006 as chief financial officer and in February 2008 became vice president and head of the Americas.[21][22][23]
Unilever
On 1 January 2009, Polman succeeded Patrick Cescau as chief executive officer of Unilever. Under his leadership, Unilever set a goal to separate business growth from its environmental impact and to increase its social impact through the Unilever Sustainable Living Plan.[5] Polman argued that in a world with limited resources and frequent economic shocks, running a business in a more sustainable way was important for long-term growth,[24] and could also reduce risk and lower costs.[24] He removed short-term earnings targets, saying they encouraged decisions that harmed long-term performance.
Polman also said he wanted to increase the share of Unilever's sales in emerging markets from 57 percent (up from 47 percent in 2008) to 70 percent. By comparison, Procter & Gamble generated 37 percent of sales in emerging markets and Nestlé 43 percent.[25] In 2009, he made several senior management changes to support this shift.
During Polman’s time as CEO from 2009 to 2019, Unilever reported eight years of sales growth, averaging about twice the rate of the overall market, while also improving profits and delivering a total shareholder return of 290 percent.[citation needed]
Bernstein’s 2017 report European Food and HPC: 10-Year Global Market Share Analysis ranked Unilever first among peers for market-share gains not driven by acquisitions and rated the company “Outperform.” In 2018, the Financial Times described Polman as a “standout CEO of the past decade.”
In 2016, Polman’s total compensation was €8.3 million, including a base salary of €1.2 million (2015: €10.2 million).[26]
Some shareholders criticized Polman’s focus on sustainability after Unilever missed sales targets in six of eight quarters in 2013 and 2014. Polman said the shortfalls were caused by currency swings and slower growth in emerging markets rather than company strategy.[27]
In 2018, Unilever supported the abolition of the Dutch dividend tax,[28] despite public opposition in the Netherlands, where more than 80 percent of citizens opposed the measure due to the estimated loss of €2 billion in annual tax revenue.[29]
In October 2018, Unilever cancelled plans to move its headquarters from London to Rotterdam.[30] The following month, Polman announced he would step down as chief executive officer at the end of 2018, with Alan Jope named as his successor.[31]
Systemiq / Imagine World
In July 2019, Polman announced the formation of a new group - Imagine World - to help combat poverty and climate change.[9] The foundation and corporation aims to help companies meet UN global goals for sustainable development. Imagine World was acquired by Systemiq in 2022 of which Polman remains a board member as well as major shareholder.[10] Systemiq, a certified B-Corporation, is a world leading environmental consultancy firm focused on managing and promoting responsible change as well as performing cutting edge research on climate topics. With over 400 consultants, they connect people, ideas, technologies and capital as part of a systems change platform.[32]
He has co-authored a report published by the International Food Policy Research Institute (IFPRI) that criticizes the efforts of the SDGs as not ambitious enough. Instead of aiming for an end to poverty by 2030, the report "An Ambitious Development Goal: Ending Hunger and Undernutrition by 2025" calls for a greater emphasis on eliminating hunger and undernutrition and achieving that in 5 years less, by 2025.[37]
Polman co-founded the Dutch Sustainable Growth Coalition, led by former Dutch prime minister Jan Peter Balkenende. He is a member of the World Economic Forum International Business Council,[38] the Global Taskforce for Scaling up Nutrition (SUN)[39] and was part of the European Resource Efficiency Platform Working Group,[40] chaired by European Commissioner Janez Potočnik. He was co-chair of the World Economic Forum 2012. He is a counsellor of One Young World[41] and trustee of the Leverhulme Trust. Polman was co-chair of the B-20 Food Security Taskforce.[42] Polman was on the board of Unilever from 2009 to 2019. He formerly was on the boards of Dow and Alcon. Polman is also part of the Leadership Vanguard, an initiative that seeks to identify, support and mobilise the next generation of leaders, focuses on redefining value.[43] He has been a member of IESE's International Advisory Board (IAB)[44] since 2015.
He is president of the Kilimanjaro Blind Trust, a foundation he created alongside fellow climber Erik Weihenmayer, to benefit blind children in Africa, and chair of the Perkins International Advisory Board.
In 2016 Polman was selected by former UN secretary-general Ban Ki-moon to be an SDG Advocate, tasked with helping build widespread support for the UN's Sustainable Development Goals.[45] He was again appointed in 2019 by the current Secretary-General António Guterres.[46]
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