On Tuesday, client packaged items main Unilever plc UL introduced a management change. Hein Schumacher will step down from his place as CEO and Board Director by mutual settlement on 1 March 2025.
Schumacher will formally go away the corporate on 31 Could 2025. Starting 1 March 2025, Fernando Fernandez, who at the moment serves as Unilever’s Chief Monetary Officer, will assume the CEO function.
“On behalf of the Board, I want to thank Hein for resetting Unilever’s technique, for the main target and self-discipline he has delivered to the corporate and for the strong monetary progress delivered throughout 2024. Hein launched and led a big productiveness programme and the graduation of the Ice Cream separation, each of that are totally on monitor,” mentioned Chairman Ian Meakins.
Unilever is within the means of separating its Ice Cream division via a demerger and listing on the Amsterdam, London, and New York inventory exchanges, matching the present markets the place Unilever shares are traded.
Fernandez has constructed a notable profession at Unilever, having beforehand held the place of President of Magnificence & Wellbeing, one of many firm’s fastest-growing divisions.
Additionally Learn: Starbucks Lays Off 1,100 Company Staff In Main Restructuring
He has additionally managed Unilever’s operations throughout Latin America, Brazil, and the Philippines, driving sturdy efficiency in these areas.
“The Board has been impressed with Fernando’s decisive and results-oriented strategy and his means to drive change at pace,” mentioned Meakins.
As a part of the management change, Unilever will provoke a seek for a everlasting CFO. Within the interim, Srinivas Phatak, who’s at the moment Unilever’s Deputy Chief Monetary Officer and Group Controller, will assume the function of performing CFO beginning 1 March 2025.
The corporate confirmed that regardless of the management shake-up, Unilever’s monetary outlook for 2025 and medium-term steerage won’t be altered.
Each Schumacher and Fernandez will proceed to obtain fastened pay, with Schumacher’s pay being in place till his departure in Could 2025, as per the corporate’s remuneration coverage.
Value Motion: On the final verify on Tuesday, UL shares have been buying and selling decrease by 0.75% to $55.90.
Learn Subsequent:
Picture by way of Shutterstock
This content material was partially produced with the assistance of AI instruments and was reviewed and revealed by Benzinga editors.
Market Information and Information delivered to you by Benzinga APIs
© 2025 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.