Unilever announced that CEO Hein Schumacher will step down after two years in service. This surprise exit was decided by mutual consent.
Schumacher will step down on March 1 and will officially leave the company on May 31.
Unilever’s current CFO, Fernando Fernandez, will succeed Schumacher.
Having taken over in July 2023, Schumacher has launched a cost-saving program as well as focused on product volume expansion.
Unilever chairman 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. Hein introduced and led a significant productivity program and the commencement of the Ice Cream separation, both of which are fully on track. The Growth Action Plan (GAP) has put Unilever on a path to higher performance and the board is committed to accelerating its execution.”
Fernandez joined Unilever in 1988. Previously, he was Chief of the Brazil and Philippines markets and led Unilever’s Latin American division and the beauty and wellbeing unit.
Fernandez will be taking over at a time when Unilever is spinning off its ice cream arm. Earlier this month, Unilever said the unit will be listed primarily in Amsterdam, with London and New York getting secondary listings when the business is spun off this year.
A thorough internal and external search process is being initiated to appoint a permanent CFO. From March 1, 2025, Srinivas Phatak, currently Unilever’s Deputy Chief Financial Officer and Group Controller, will become acting CFO.
Schumacher will step down on March 1 and will officially leave the company on May 31.
Unilever’s current CFO, Fernando Fernandez, will succeed Schumacher.
Having taken over in July 2023, Schumacher has launched a cost-saving program as well as focused on product volume expansion.
Unilever chairman 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. Hein introduced and led a significant productivity program and the commencement of the Ice Cream separation, both of which are fully on track. The Growth Action Plan (GAP) has put Unilever on a path to higher performance and the board is committed to accelerating its execution.”
Fernandez joined Unilever in 1988. Previously, he was Chief of the Brazil and Philippines markets and led Unilever’s Latin American division and the beauty and wellbeing unit.
Fernandez will be taking over at a time when Unilever is spinning off its ice cream arm. Earlier this month, Unilever said the unit will be listed primarily in Amsterdam, with London and New York getting secondary listings when the business is spun off this year.
A thorough internal and external search process is being initiated to appoint a permanent CFO. From March 1, 2025, Srinivas Phatak, currently Unilever’s Deputy Chief Financial Officer and Group Controller, will become acting CFO.
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