Unilever has announced that Hein Schumacher, who became CEO in July 2023, will step down from his role in March 2024 and leave the company by May 31, 2024. Schumacher’s departure follows a mutual agreement, as stated by the company in a press release on Tuesday.
Schumacher, who led the company through significant changes, is credited with resetting Unilever’s strategy and overseeing a major productivity program, including the ongoing separation of its Ice Cream business. Unilever’s Chairman, Ian Meakins, expressed gratitude for Schumacher’s leadership: “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 continued, “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.”
In his departure statement, Schumacher 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.”
Fernando Fernandez, currently Unilever’s Chief Financial Officer (CFO), will succeed Schumacher as CEO. Prior to becoming CFO in January 2024, Fernandez served as President of Unilever’s Beauty & Wellbeing division. His leadership experience also includes roles as President of Latin America, CEO of Brazil, and CEO of the Philippines, where he led some of the company’s best-performing markets and delivered strong financial results.
The company also announced that Srinivas Phatak, Unilever’s Deputy CFO and Group Controller, will temporarily take on the role of acting CFO following Fernandez’s promotion.
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