Beiersdorf is poised to name a new CEO in December, according to a report published by Reuters quoting German Monthly Manager Magazine.

Deputy Chief Executive Stefan De Loecker will score the top job at the Nivea manufacturer, succeeding Stefan Heidenreich who announced his intention to step down before the end of next year in June.

De Loecker was appointed Deputy CEO following Heidenreich’s announcement; the German magazine claims that he presented the initial findings of  his strategy plan to the supervisory board this month, per Reuters. When contacted by Reuters, Beiersdorf declined to comment on the rumors.