By:Kenneth Appiah Bani.
In a surprising development, Unilever has announced the departure of CEO Hein Schumacher, who will step down on March 1, 2025, after less than two years in the role. The company’s Chief Financial Officer, Fernando Fernandez, is set to take over as CEO, aiming to accelerate Unilever’s growth strategy.
Schumacher, who assumed the CEO position in July 2023, initiated several strategic changes, including a significant productivity program and the planned separation of Unilever’s ice cream division. Despite these efforts, the company’s performance did not meet expectations, leading to the board’s decision for a leadership change.
Chairman Ian Meakins expressed gratitude for Schumacher’s contributions, stating, “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.” Meakins emphasized the need for accelerated execution of the Growth Action Plan (GAP) under new leadership.
Fernando Fernandez, who has been with Unilever since 1988, brings extensive experience to the CEO role. Prior to becoming CFO in January 2024, he led the company’s beauty and wellbeing division and served as President of Latin America. Known for his decisive and results-oriented approach, Fernandez is expected to drive rapid change and enhance shareholder value.
Unilever’s board remains committed to the company’s 2025 outlook and medium-term guidance, indicating confidence in Fernandez’s ability to lead the company toward improved performance. As the company navigates this leadership transition, stakeholders will be closely monitoring the impact on Unilever’s strategic direction and market position.
