The German manufacturer of personal care products, Biersdorf, has announced that they are to extend the contract of its current chief executive by five years after the strategy he implemented helped boost sales last year.
Sales rose 1.7% to €6.14 billion in 2013, the company revealed last week, which was just slightly below analysts' expectations. If adjusted for currency effects, Biersdorf said that sales would have been 7.2% higher.
The full financial data will be available on 4 March.
Chief Executive Stefan Heidenreich noted an "excellent growth dynamic…across all areas of the group."
Beiersdorf, the maker of Nivea skin care products, attributed its 2013 performance to its Blue Agenda program, launched in 2012 by Mr. Heidenreich, whose contract was extended until the end of 2019.
Blue Agenda, which refers to the colour of Nivea's packaging, aims to build on the household-name status of Beiersdorf's core Nivea brand, and to expand the presence of the company's products in emerging markets.
© 2014 - European Supermarket Magazine by Enda Dowling