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Unilever CEO Hein Schumacher is set to step down from his role as Chief Executive Officer and Director on March 1, 2025, with his official departure from the company slated for May 31, 2025. The multinational consumer goods giant announced on Tuesday, February 25, that Fernando Fernandez, the current Chief Financial Officer (CFO) and Executive Director, will succeed him as CEO starting March 21, 2025.
Unilever has confirmed that there will be no changes to its 2025 outlook or medium-term business guidance despite this leadership transition. Schumacher played a key role in implementing a major productivity program and spearheaded the demerger of Unilever’s ice cream division, which includes well-known brands like Kwality Wall’s, Cornetto, and Magnum.
Reflecting on his tenure, Schumacher said, “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. 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.”
As per the company’s remuneration policy, Schumacher will continue receiving his fixed pay of €1.85 million until his official departure and will be classified as a “good leaver.” Meanwhile, his successor, Fernando Fernandez, will receive a fixed salary of €1.8 million and will also be eligible for annual bonuses and performance share plan awards.
Before becoming CFO in January 2024, Fernandez led Unilever’s Beauty & Wellbeing segment, one of the company’s fastest-growing divisions. He has also held key leadership positions, including President of Latin America, CEO of Unilever Brazil, and CEO of Unilever Philippines.
“Being appointed as CEO of Unilever is an honour,” Fernandez said in a statement. “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.”
As Fernandez transitions into his new role, Unilever has launched a search for a permanent CFO. In the interim, Srinivas Phatak, currently Deputy CFO and Group Controller, will serve as acting CFO.
This leadership change comes at a critical time for Unilever, as the company continues to refine its portfolio and drive strategic growth across global markets.
Sources By Agencies
