Unilever CEO Hein Schumacher Steps Down, CFO Fernando Fernandez Takes Over

Unilever has announced the unexpected resignation of CEO Hein Schumacher, effective March 1, following disappointing sales guidance and investor pressure for improved performance. He will be succeeded by Chief Financial Officer Fernando Fernandez, who has been with the company for 37 years and previously led its beauty and wellbeing division. Schumacher's departure, just 18 months into his tenure, raised concerns among analysts about the company's ongoing strategy and performance, with shares dipping as a result. Despite the leadership change, Unilever has reaffirmed its commitment to its existing growth initiatives and medium-term outlook for 2025. Analysts suggest that the sudden CEO transition during a strategy overhaul indicates challenges within the company, although Fernandez's experience may help stabilize operations. The company is now searching for a new CFO to replace Fernandez in his former role.