Unilever CEO Schumacher Ousted Amid Investor Pressure

Unilever has announced the ousting of CEO Hein Schumacher, with CFO Fernando Fernandez set to replace him effective March 1. Schumacher's departure comes after less than two years in the role, following a unanimous board decision and pressure from investors like Nelson Peltz to enhance company performance. The move aligns with Unilever's strategy to accelerate its turnaround plan, including restructuring efforts such as the separation of its ice cream division. Despite Schumacher's initiatives like the Growth Action Plan, the company has faced performance challenges in a tough market environment. Fernandez, a nearly 40-year veteran of Unilever, is anticipated to drive strategic execution further. Unilever's share price fell following the announcement, reflecting investor surprise at the leadership change.