Jim Lawrence leaves General Mills to replace Rudy Markham as Unilever CEO as of September 1. The decision is likely to be welcomed by analysts and investors, who believed that Unilever was having trouble finding someone suitable after announcing Markham's retirement in February. It is the first high-profile appointment under the new chairmanship of Michael Treschow.

Treschow, said: “I’m pleased to welcome Jim to the Company and to the Board. Despite having excellent internal candidates we believe the fresh insights that his external appointment brings will be of particular value at this time.” Lawrence was chief financial officer at Northwest Airlines before joining General Mills and also ran PepsiCo's Emerging Markets business. He is also a non-executive director of British Airways.

General Mills said Lawrence was replaced as CFO by Don Mulligan. Mulligan has been General Mills senior vice president for Financial Operations earlier this year.

Unilever, owns brands such as Knorr soup, Dove soap and Ben & Jerry's ice cream.