Unilever CEO Hein Schumacher to step down

Unilever CEO Hein Schumacher to step down

Unilever chief executive Hein Schumacher will step down after less than two years in the role and be replaced by finance chief Fernando Fernandez, the consumer goods giant said on Tuesday.

The departure comes just weeks after Unilever announced underwhelming full-year earnings and chose Amsterdam over London and New York as the primary listing for its ice cream business.

Schumacher reset the group's strategy to address years of underperformance and laid out cost cuts last year, including separating its ice cream division and cutting thousands of jobs.

Unilever, which owns Hellmann's mayonnaise, Dove soap and Ben & Jerry's ice cream, said there was no change to its 2025 outlook or medium-term forecast and that the board was committed to "further accelerating" Schumacher's growth plan.

Schumacher, who joined in July 2023, will step down as CEO in March and leave the company on May 31. He is leaving by mutual agreement, the company said.

Fernandez was finance chief for a year and previously held roles such President Latin America and CEO Brazil.

Srinivas Phatak, currently Unilever's deputy chief financial officer and group controller, will become acting CFO, while the company looks for a permanent replacement.