Unilever CEO Hein Schumacher leaves after just 18 months on the job
Unilever PLC on Tuesday said Chief Executive Officer Hein Schumacher is stepping down ‘by mutual agreement’. He will be replaced by Chief Financial Officer Fernando Fernandez.
The London-based consumer goods firm, owner of brands such as Marmite, Dove and Ben&Jerry’s said Schumacher, who took on as CEO on July 2023, will remain in the role until March 1. He will later leave the company on May 31.
His replacement, Fernandez, became CFO on January 2024. He previously had been CEO of Unilever’s Brazil and Philippines businesses, as well as the company’s president for Latin America.
Unilever Chair Ian Meakins said: ‘On behalf of the board, I would like to thank Hein for resetting Unilever’s strategy, for the focus and discipline he has brought to the company and for the solid financial progress delivered during 2024.’
‘The board has been impressed with Fernando’s decisive and results-oriented approach and his ability to drive change at speed. While the board is pleased with Unilever’s performance in 2024, there is much further to go to deliver best-in-class results.’
The incoming CEO said: ‘Our focus will be on building a future-fit portfolio with an attractive growth footprint and delivering unmatched functional and perceivable superiority across our top 30 power brands.’
Unilever said an internal and external search process has been initiated to appoint a permanent CFO, but in the meantime, current deputy CFO Srinivas Phatak will become acting CFO.
Unilever is currently planing a three-way listing for its Ice Cream unit. Earlier this month, the company said it plans to list its Ice Cream business in Amsterdam, London and New York, the same three exchanges on which Unilever PLC shares are currently traded, but it will remain headquartered and incorporated in Amsterdam.
Unilever shares were down 1.7% at 4,407.00 pence early Tuesday in London.
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