Unilever Jumps Following Resignation Of Key Margarine Business Executive

Shares of Unilever plc (ADR) UL were trading higher by nearly 4 percent on Tuesday after the Wall Street Journal reported that Sean Gogarty has resigned from the company.

Gogarty was head of Unilever's baking cooking and spreads business and his departure from the company was due to a difference in views on how the segment should be operated.

WSJ pointed out that Gogarty was tasked with returning the segment to growth but the company changed its plans after the Amanda Sourry was appointed to lead the foods division in October.

WSJ further suggested that Gogarty's resignation from Unilever will spark further speculation that the "slow-growing" business will be sold-off.