Unilever Replaces CEO Hein Schumacher with CFO Fernando Fernandez

Unilever has announced the surprising departure of CEO Hein Schumacher after less than two years, effective March 1, 2025, with CFO Fernando Fernandez set to take over. The board's decision comes amid pressure from shareholders, including activist investor Nelson Peltz, to accelerate the company's turnaround strategy, which includes significant cost-cutting measures and brand focus. Despite Unilever's shares rising over 9% during Schumacher's tenure, the board expressed a need for faster growth and performance improvements. Chairman Ian Meakins praised Schumacher's contributions but emphasized the urgency for enhanced shareholder value. Analysts noted the unexpected nature of the leadership change, with some suggesting it could revitalize the company's direction. Unilever's shares fell 3% following the announcement, indicating market uncertainty over the transition.