Unilever has announced that Chief Executive Officer Hein Schumacher will step down from his role on 1 March 2025 and leave the company on 31 May 2025. The decision was made by mutual agreement.
Fernando Fernandez, currently the company’s Chief Financial Officer, will take over as CEO from 1 March 2025. Fernandez, who was appointed CFO in January 2024, previously led Unilever’s Beauty and Wellbeing division and held senior roles in Latin America, Brazil, and the Philippines.
Ian Meakins, Chairman at Unilever, expressed confidence in Fernandez’s leadership stating that the Board has been impressed with Fernando’s decisive and results-oriented approach and his ability to drive change at speed.
“Having worked with Fernando closely over the last 14 months, the Board is very confident in his ability to lead a high-performing management team and deliver shareholder value.”
Schumacher, who has led Unilever since July 2023, reflected on his tenure, stating, “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.”
Meakins acknowledged Schumacher’s contributions, saying, “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.”
Fernandez described his appointment as an honour, adding, “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.”
The company has begun an internal and external search for a new CFO. From 1 March 2025, Deputy CFO Srinivas Phatak will serve as acting CFO. Unilever stated that there are no changes to its 2025 financial outlook or medium-term guidance.
As part of the leadership transition, Fernandez will receive a fixed salary of €1.8 million, along with eligibility for bonuses and performance-based awards. Schumacher will continue to receive his current salary of €1.85 million until his departure and will be eligible for additional payments as per company policy.
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