Hein Schumacher has stepped down from being the Unilever Chief Executive Officer (CEO) and brought leadership change in the company. Unilever Chief Financial Officer (CFO) Fernando Fernandez starts his position as CEO starting 1 March 2025.
Leadership Transition at Unilever
After mutual agreement with the company, it is effective that Hein Schumacher will leave Unilever on 31 May 2025. While he was the CEO, he had to initiated the Ice Cream separation, introduce a productivity program, and reset the Unilever strategy.
Unilever’s Chairman Ian Meakins thanked SEO Schumacher stating:
“Hein brought focus and discipline to Unilever driving strong financial progress in 2024. His leadership has set foundation for future growth.”
Who is Fernando Fernandez?
Fernando Fernandez has been with Unilever for several years. Before becoming CFO on January 2024, he was President of Beauty & Wellbeing, one of the company’s fastest growing divisions.
His past roles include:
- President of Latin America.
- Unilever CEO Brazil
- Unilever CEO Philippines
He has a track record for delivering profitable results and top talent development.
Ian Meakins shows full trust in Fernando when he said:
“Fernando has consistently proven results. He knows how Unilever works and he is genuinely passionate about our brands.”
Unilever´s Plans During Fernando´s Leadership
As a chief, Fernando Fernandez intends to:
- Expand and strengthen Unilever’s portfolio over the 30 strongest power brands
- Enhance product qualities to meet the needs of the consumers.
- Build a strong positive business and Increase the company value.
Fernando said:
“Leading Unilever is an honour but our focus now shifts towards a formidable growth strategy to enable Unilever to become the Ordinal leader in the industry”
Assignment of the Interim CFO
With Fernando now serving as the CEO, Unilever has started the search to fill the position of permanent CFO. Until the search is complete, the newly appointed acting CFO, dputy CFO and group controller, serves to assumes the role of CFO effective < 1 march 2025.
Srinivas most recently served as the CFO of hindustan unilever so fisnace, strategy and supply chain management is hardly new to him.
Financial Guidance Towards Unilevers Earnings Is Still Maintained
Unilever’s financial commitment is the same even though leadership has changed. The company has confirmed there will be alterations in the forecast for its financial guidance within the medium term.
CEO Salary Annuity and Implied Post Separation Benefits
Fernando Fernandez (New CEO)
- Fixed Pay: €1.8 million per year
- Bonus Plan as per company policy
Hein Schumacher (Departing CEO)
- Fixed Pay: €1.85 million per year Until 31 may 2025
- Said payment was in lieu of notice period payment
- “Good leaver” status under Unilever policy
The details of Schumacher’s exit package will be detailed on Unilever’s website
What Now for Unilever
The change in leadership signifies unilever’s next chapter. With Fernando Fernandez at the helm, the company is excited to accelerate its growth strategy and double down on target brands.
All eyes will be on Unilever as it’s investors will want to know how the new leadership is going to deliver their growth promises in the next years.
