Unilever replaces CEO after just 19 months
By Benjamin Chiou
Date: Tuesday 25 Feb 2025
(Sharecast News) - Consumer products giant Unilever has announced that its chief executive is leaving "by mutual agreement" after just 19 months at the helm.
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.
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