Corporate Strategy 3 April 2026 - 14 May 2026

Unilever’s McCormick Deal Gets Awkward After Terry Smith Walks Away
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Unilever’s McCormick Deal Gets Awkward After Terry Smith Walks Away

Unilever PLC finds itself under sharper scrutiny after Fundsmith’s Terry Smith exited his position, criticizing the shift from fixing operations to splitting up the business and tying its foods unit to McCormick. Smith’s departure—flagged by The Times—lands one of the group’s most prominent shareholders in open opposition to CEO Fernando Fernández’s most significant move to date. Timing is key here. Unilever’s board won shareholder support at Wednesday’s annual meeting, but the McCormick deal skips a Unilever shareholder vote under UK listing rules, the company said in its announcement. Closing is targeted by mid-2027. The deal still needs McCormick shareholder approval, regulatory sign-off, and other standard conditions.
May 15, 2026
Rio Tinto’s New BP Hire Lands as Copper Boom Raises Stakes for the Miner
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Rio Tinto’s New BP Hire Lands as Copper Boom Raises Stakes for the Miner

Rio Tinto plc on Thursday tapped Trudi Charles, a longtime BP executive, as chief legal officer, governance and corporate affairs. The mining group, pushing further into copper and eyeing the critical minerals surge, slots Charles into a key risk and compliance seat. According to a regulatory notice, the news hit the ASX and LSE at 07:30 BST, with Charles due to start on Aug. 1. The title isn’t really the story here. Shares of Rio Tinto ended Wednesday at £82.72, up 4.44%—hitting a fresh 52-week high—as the FTSE 100 added 0.58%. That kind of rally is making even routine executive moves stand out more.
May 14, 2026
BP PLC’s Big Reset Is Here: Meg O’Neill Starts June Overhaul as Carbon Capture Stakes Go on Block
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BP PLC’s Big Reset Is Here: Meg O’Neill Starts June Overhaul as Carbon Capture Stakes Go on Block

BP chief executive Meg O’Neill told employees that a sweeping company reorganization kicks off in June, people familiar with the call said. The British oil giant is shifting back to a basic structure focused on upstream and downstream divisions. Upstream refers to oil and gas exploration and extraction, while downstream includes refining, fuel sales, and customer-facing operations. This shift is significant: under O’Neill—BP’s fifth CEO since 2020, who stepped in on April 1—the company’s strategic overhaul is now moving directly into day-to-day execution.
May 9, 2026
Why Citi’s $52mn Vis Raghavan Hire From JPMorgan Is Suddenly Under Scrutiny
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Why Citi’s $52mn Vis Raghavan Hire From JPMorgan Is Suddenly Under Scrutiny

Citigroup’s $52mn move to bring in Vis Raghavan from JPMorgan Chase is facing renewed questions. The Financial Times reported Raghavan was told he’d lost his job at JPMorgan following years of complaints about his conduct—only for Citi to hire him just three days after that decision. According to the FT, Citi offered him the position before his exit from JPMorgan had been made public. That’s significant: Raghavan isn’t just any new face. Citi put him in charge of Banking and named him executive vice-chair. He’ll answer directly to Jane Fraser and oversee investment, corporate, and commercial banking—areas Fraser still has to strengthen if Citi wants a shot at catching up with larger Wall Street competitors.
April 29, 2026
Shell Plc Eyes Shenandoah Stake as Oil Shock Sends Majors Chasing Safer U.S. Barrels
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Shell Plc Eyes Shenandoah Stake as Oil Shock Sends Majors Chasing Safer U.S. Barrels

Shell is among oil majors studying a 51% stake in the Shenandoah offshore field in the U.S. Gulf, sources familiar with the process said, as conflict-driven supply fears push buyers toward North American barrels. BP and TotalEnergies are also in the early mix, while Shell declined to comment. The timing matters. Brent settled at $109.03 a barrel and U.S. crude at $111.54 on Thursday after Trump vowed more attacks on Iran, and immediate U.S. crude for next-month delivery traded at a record premium to later barrels — a sign traders are paying up for near-term supply. Shell’s financial calendar shows a first-quarter update due on April 8, with full Q1 results scheduled for May 7.
April 3, 2026