Unilever CEO Hein Schumacher to be Replaced by CFO
Unilever is undergoing a leadership shift, with CEO Hein Schumacher stepping down and CFO Fernando Fernandez taking over from 1 March.
Hein, who serves as Chief Executive and Board Director, will officially leave Unilever on 31 May.
Reflecting on his tenure, Hein 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.”
Unilever Chairman Ian Meakins praised Hein for refining the company’s strategy, highlighting the discipline and financial improvements made under his leadership: “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.”
A strategic leader
Fernando, who has been CFO since January 2024, brings extensive experience, having previously served as President of Beauty & Wellbeing, one of Unilever’s fastest-growing divisions. He has also held leadership roles across Latin America, including as CEO in Brazil and the Philippines.
His leadership in these regions showcased his ability to navigate complex markets and build high-performing teams.
Ian emphasised the board’s confidence in Fernando’s leadership, describing him as “decisive and results-oriented” with a strong ability to drive change quickly.
“He partnered in the development of the GAP and in driving the productivity programme,” Ian said. “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 growth
Fernando takes on the CEO role with a clear vision for strengthening Unilever’s competitive position, stating: “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.”
As Unilever moves forward with its leadership transition, the company has confirmed that a search is under way for a permanent CFO. In the interim, Deputy CFO and Group Controller Srinivas Phatak will step in as acting CFO from 1 March.
Srinivas brings deep expertise in finance, strategy and supply chain management, having previously served as CFO of Hindustan Unilever Limited. His appointment ensures continuity in the company’s financial leadership as it continues implementing strategic procurement and operational efficiency initiatives.
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