Hein Schumacher to Step Down as CEO at Unilever
Unilever has announced a significant change to its leadership, with Hein Schumacher set to step down from his role as CEO. He will be replaced by Fernando Fernandez, who currently serves as CFO and will assume the top job from 1 March.
Hein expressed pride in his tenure at Unilever, saying it had been "a privilege" to lead the FMCG giant.
"We have made real progress and I am proud of what we have achieved in a short period of time," he added. "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."
Ian Meakins, Chairman at Unilever, acknowledged Hein's vital role in "resetting Unilever’s strategy" and the "focus and discipline he has brought to the company".
He continued: "Hein introduced and led a significant productivity programme and the commencement of the Ice Cream separation, both of which are fully on track.
"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."
Leadership transition and strategy
Hein’s successor, Fernando Fernandez, is no stranger to leadership positions within Unilever.
Prior to becoming CFO in January 2024, he led Unilever’s Beauty & Wellbeing division and held significant positions including President of Latin America and CEO of both Brazil and the Philippines.
The roles underscore his robust experience in spearheading some of the company’s most dynamic markets and propelling substantial financial outcomes.
Highlighting Fernando's credentials, Ian said: "The board has been impressed with Fernando’s decisive and results-oriented approach and his ability to drive change at speed.
"He partnered in the development of the GAP and in driving the productivity programme. He has a strong track record of performance and portfolio management, a love of brands and a profound knowledge of Unilever’s operations.
“While the board is pleased with Unilever’s performance in 2024, there is much further to go to deliver best-in-class results. 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, realise the benefits of the GAP with urgency and deliver the shareholder value that the company’s potential demands."
Future Prospects and CFO Succession
Fernando, who has been with the business for almost four decades, called taking the reins as Chief Executive "an honour".
Laying out his vision for the organisation, he said: "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. I have full confidence in our team's ability to propel Unilever to a global industry-leading position and create substantial value for our shareholders.
"I would like to thank Hein for his values-led leadership and the performance focus he has brought to the business. I wish him every success for the future."
Meanwhile, Unilever has begun a comprehensive search to fill the CFO position permanently.
Until a new CFO is appointed, Srinivas Phatak, currently Deputy CFO and Group Controller and former CFO of Hindustan Unilever Limited, will take over as acting CFO from 1 March, bringing extensive experience in finance, strategy and supply chain management to the role.
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