Unilever named Nils Andersen as its new chairman. Andersen will replace Marijn Dekkers.

Marijn Dekkers, who is standing down after more than three years as chairman, to focus on his responsibilities as founder and chairman of investment and advisory firm Novalis LifeSciences.

Andersen, who was appointed a non-executive director of Unilever in 2015. Andersen currently is part of Unilever's audit committee and serves as chairman of Dutch paint company Akzo Nobel NV and privately held Danish retailer Salling Group A/S. He is also a non-executive director at BP.