Leadership executed through a complex operational recovery, restored margins, and is driving a multi‑year digital and productivity agenda. Chair and CEO Linda Rendle continues to emphasize brand investment and cost savings while simplifying the portfolio.
The CFO transition in April 2025 to long‑time insider Luc Bellet supports continuity in financial discipline and the transformation program. Communication on ERP timing effects and FY2026 outlook has been transparent. We assign a solid rating for steady execution and credible long‑term targets, with positive succession planning and governance.







