Unilever replaces CEO after just 19 months.

Consumer products giant Unilever has announced that its chief executive is leaving “by mutual agreement” after just 19 months at the helm.

Unilever
25 February 2025 07:30:56

Source: Sharecast

Hein Schumacher, who became CEO in July 2023 after serving as a boardmember for one year, is to step down on 1 March and will exit the firm on 31 May.

Chairman Ian Meakins thanked Schumacher "for resetting Unilever's strategy [...] and for the solid financial progress delivered during 2024".

Schumacher will be replaced by Fernando Fernandez, who has been the company’s chief financial officer since January 2024.

"The board has been impressed with Fernando's decisive and results-oriented approach and his ability to drive change at speed. [...] He has a strong track record of performance and portfolio management, a love of brands and a profound knowledge of Unilever's operations," Meakins said.

Fernandez will be replaced by Srinivas Phatak, currently Unilever's deputy CFO.

FTSE 100 ( UKX )

ISIN: N/A

Exchange: London Stock Exchange

Sell:

0.00

Buy:

0.00

Change: 99.55 ( 1.17 %)

Date:

02/05/2025 - 17:09

Prices delayed by at least 15 minutes

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

View our accounts

Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.