Hein Schumacher will leave Unilever on May 31, 2025, after resigning as CEO and board director on March 1, 2025, per a mutual agreement, the company said on Tuesday, February 25, 2025.
Currently serving as Unilever’s Executive Director and Chief Financial Officer, Fernando Fernandez will take over as CEO on March 1, 2025, BrandSpur news brand reports.
Fernandez enjoyed a prosperous term as President of beauty and wellbeing, one of Unilever’s fastest-growing divisions, before taking over as CFO in January 2024. He oversaw some of the company’s top-performing markets in his prior positions as president of Latin America, CEO of Brazil, and CEO of the Philippines, producing excellent financial performance and nurturing outstanding people.
According to Ian Meakins, the Chairman of Unilever: “On behalf of the board, I would like to thank Hein for resetting Unilever’s strategy, for the focus and discipline he has brought to the company and for the solid financial progress delivered during 2024. 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.”
Continuing, he had this to say about Fernando’s appointment as CEO: “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,” he added.
The resigning CEO revealed: “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. 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.”
Fernandez had this to say about his new appointment: “Being appointed as CEO of Unilever is an honour. 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.”
However, to find a permanent CFO, a comprehensive internal and external search process is being started.
Srinivas Phatak, who is now the group controller and Deputy Chief Financial Officer for Unilever, will take over as acting CFO on March 1, 2025. He has held senior finance, strategy, and supply chain positions both domestically and internationally, including a fruitful stint as CFO of Hindustan Unilever Limited. Because of his extensive experience and leadership abilities, Srinivas will be able to work with Fernando to successfully implement Unilever’s plan.
