Unilever allows its CEOs to serve nine-year terms, and as Michael Treschow’s was up in April 2016, the multinational signed Dr. Marijn Dekkers, the CEO of Bayer, as his successor.

Dr. Dekkers is considered by many to be one of Europe’s leading global business figures, and will succeed Treschow as chairman of Unilever N.V. and Unilever PLC.

Treschow joined the Unilever Boards in 2007 and was the first independent, non-executive chairman of Unilever.