Jope is currently president of the company's beauty and personal care businesses and will take on his new role by January, said Unilever in a press statement on Thursday, Nov. 29.
News of the new chief barely budged shares of the company. While shares on the London Stock Exchange were up slightly for Unilever, they were down nearly a half percent for the company's American depositary receipts traded in the U.S.
The change of leadership for the British-Dutch transnational company will end Polman's decade in charge when total shareholder return nearly tripled, according to Unilever.
Jope, 54 years old, has been running the company's bread-winning beauty and personal care segment since 2014 and has been an executive there since 2011, after first working for the company as marketing trainee more than 30 years ago.
"Paul is an exceptional business leader who has transformed Unilever, making it one of the best-performing companies in its sector, and one of the most admired businesses in the world," said Unilever Chairman Marijn Dekkers in a press statement.