Unilever CEO Hein Schumacher to step down

February 25, 2025 07:23 PM AEDT | By Investing

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Unilever CEO Hein Schumacher to step down

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Investing.com -- Unilever PLC (LON:ULVR) said on Tuesday that its Chief Executive Officer Hein Schumacher, is set to leave the company, in a surprise move.

The consumer goods giant said that Schumacher's departure will take effect on May 31 and that Fernando Fernandez, the current Chief Financial Officer, has been named his successor.

Schumacher's tenure at Unilever has been relatively brief, having taken over as CEO from Alan Jope in July 2023. Despite Schumacher's departure, Unilever has stated that its guidance for 2025 remains unchanged.

Fernandez brings considerable experience to his new role. Prior to serving as the company's Chief Financial Officer, he was the president of Unilever's beauty and wellbeing unit.

“The Board has been impressed with Fernando’s decisive and results-oriented approach and his ability to drive change at speed. He partnered in the development of the GAP and in driving the productivity programme." Unilever Chairman Ian Meakins said in a press release.

"He has a strong track record of performance and portfolio management, a love of brands and a profound knowledge of Unilever’s operations," he added.

The company also added that Fernando will receive fixed pay of Euro 1,800,000 and will be eligible to participate in an annual bonus and Performance Share Plan awards, in line with Unilever’s policy.

An internal and external search process has been initiated to appoint a permanent CFO, while Srinivas Phatak, currently Unilever’s Deputy CFO will serve as acting CFO.

This article first appeared in Investing.com

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