Ben & Jerry’s ice cream shower tub is in a shop freezer.
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Unilever CEO Hein Schumacher resigned after less than two years of work, and current chief financial officer Fernando Fernandez will lead his position, the company said Tuesday.
Schumacher seized the Ins ropes in July 2023, leading the task of overhauling the consumer goods giant – will serve as CEO and chairman in March and will leave the company on May 31. His departure was conducted through mutual agreements, the consumer goods company said.
Fernandez’s new role will take effect on March 1.
Unilever said there was no change in its 2025 outlook or the company’s interim guidance after this announcement.
By 12:29 pm in London, the stock fell about 1.6%.
“On behalf of the board, I would like to thank Hein for his strategy of relocating Unilever, the focus and discipline he brings to the company and the 2024 period,” said Ian Meakins, chairman of Unilever. Reliable financial advancements achieved.”
“While the board is happy with Unilever’s performance in 2024, there is still much to do to provide top-notch results. Working closely with Fernando over the past 14 months, the board is very confident that he has performed well with the leadership. High performance capability management teams that urgently realize the benefits of gaps (growth action plan) and provide shareholder value for potential demands of the company.”
Unilever’s current CFO and team controller Srinivas Phatak will take over the interim CFO. The company added that internal and external searches are now being started to fill the position permanently.
Diana Radu, an equity analyst at Morningstar, said the news was “unexpected”, especially given the company’s recent performance with peers in the consumer goods sector.
“The company’s recent performance has nothing to guarantee such a move,” she said. “In fact, under his leadership, Unilever has provided a strong 18 months under his leadership to greater focus and disciplined executions as characteristics.”
Unilever did not provide further comments on the decision when contacted by CNBC.
