Unilever CEO Hein Schumacher to step down, Fernando Fernandez to succeed
Hein Schumacher, who joined in July 2023, will step down as CEO in March and will leave the company on May 31
 "Unilever CEO Hein Schumacher to step down, Fernando Fernandez to succeed")
Consumer goods giant Unilever on Tuesday announced that Hein Schumacher will step down as CEO of the company, reported news agency Reuters. Schumacher will be replaced by the current finance chief Fernando Fernandez, the company said.
According to the announcement, Schumacher, who joined in July 2023, will step down as CEO in March and will leave the company on May 31.
“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 programme and the commencement of the Ice Cream separation, both of which are fully on track," said Ian Meakins, Chairman, Unilever.
"The Growth Action Plan (GAP) has put Unilever on a path to higher performance and the Board is committed to accelerating its execution. We are grateful for Hein’s leadership, and we wish him the very best for the future,” he added.
Schumacher is leaving by mutual agreement, the statement read.
On his departure from the company, Schumacher said, “It has been a privilege to lead Unilever. We have made real progress and I am proud of what we have achieved in a short period of time. With a clear strategy, a portfolio reset in motion and a strong leadership team in place, I look forward to seeing Unilever move from strength to strength in the future.”
Before taking charge as the CFO of the company in January 2024, Fernando played the role as the President of Unilever’s Beauty & Wellbeing business.
The company stated that in his previous roles as President of Latin America, CEO of Brazil, and CEO of the Philippines, Fernando led some of the company's top-performing markets, achieving strong financial results and developing outstanding talent.
Additionally, Srinivas Phatak, currently Unilever's deputy chief financial officer and group controller, will become acting CFO, the statement read.
[With inputs from agencies]