Unilever CEO Hein Schumacher Steps Down; Fernando Fernandez Appointed Successor

Unilever, a leading consumer goods giant, announced a significant change in its leadership, Hein Schumacher, who has been the CEO since July 2023, will step down in March 2025. His replacement will be Fernando Fernandez, the current CFO of the company. This transition is set to take place by mutual agreement, with Schumacher leaving the company officially by May 31, 2025. The move comes amid the progress made under Schumacher’s leadership, including the implementation of Unilever’s Growth Action Plan (GAP), strategic reset, and a strong financial outlook for 2024.

Key highlights of the leadership change

CEO Transition

• Hein Schumacher, who joined Unilever in July 2023, will step down as CEO by March 2025.
• Fernando Fernandez, the current CFO of Unilever, will replace Schumacher as the new CEO.
• Schumacher will officially leave the company by May 31, 2025.

Acknowledgment of Schumacher’s Leadership

• Ian Meakins, Chairman of Unilever, praised Schumacher for resetting the company’s strategy and achieving solid financial progress in 2024.
• Schumacher’s leadership helped initiate a significant productivity program and the separation of Unilever’s ice cream division.
• The Growth Action Plan (GAP) is considered a success, leading Unilever toward higher performance and stronger execution.

Schumacher’s Departure

• Schumacher expressed pride in the progress made under his leadership, emphasizing the clear strategy and the strength of Unilever’s leadership team.
• He expressed confidence in Unilever’s future trajectory.

Fernando Fernandez’s Appointment

• Fernando Fernandez was appointed CFO in January 2024 and has now been selected as the CEO.
• Fernandez previously served as the President of Unilever’s Beauty & Wellbeing business and held leadership roles in Latin America, Brazil, and the Philippines.
• He is known for driving top-performing markets and fostering talent within the company

New Acting CFO

• Srinivas Phatak, the current deputy CFO and group controller at Unilever, will take on the role of acting CFO following the leadership change.