Unilever has announced a significant leadership transition, with Chief Financial Officer Fernando Fernandez set to succeed Hein Schumacher as Chief Executive Officer, effective March 1, 2025. Schumacher, who assumed the CEO role in July 2023, will officially depart the company on May 31, 2025, following a mutual agreement with the board .
Schumacher’s tenure was marked by notable initiatives, including the implementation of the Growth Action Plan (GAP), a comprehensive productivity program, and the commencement of the separation of Unilever’s ice cream division. Despite achieving solid financial progress in 2024, the board determined that a leadership change was necessary to accelerate the company’s transformation efforts .
Fernando Fernandez brings a wealth of experience to the CEO position, having joined Unilever in 1988. His extensive career includes leadership roles across various markets, such as serving as President of Unilever’s Beauty & Wellbeing Business Group, President of Latin America, CEO of Unilever Brazil, and CEO of Unilever Philippines. Fernandez’s deep understanding of the company’s operations and his track record of driving performance and portfolio management were key factors in his appointment .
Unilever Chairman Ian Meakins expressed confidence in Fernandez’s ability to lead the company through its next phase of growth. “The board has been impressed with Fernando’s decisive and results-oriented approach and his ability to drive change at speed,” Meakins stated. “He partnered in the development of the GAP and in driving the productivity programme. He has a strong track record of performance and portfolio management, a love of brands, and a profound knowledge of Unilever’s operations” .
The leadership change comes amid ongoing discussions about Unilever’s strategic direction, including the potential divestment of its food business to focus on higher-margin sectors like beauty and personal care. Shareholders have expressed varying opinions on this potential shift, with some advocating for a more streamlined portfolio to enhance shareholder value .
As Fernandez assumes the CEO role, Unilever has appointed Srinivas Phatak, currently Deputy Chief Financial Officer and Group Controller, as Acting CFO. The company has initiated a comprehensive search process to identify a permanent successor for the CFO position .
Fernandez’s appointment signals Unilever’s commitment to accelerating its transformation strategy and achieving best-in-class performance. His leadership will be instrumental in navigating the company through its strategic priorities and delivering value to shareholders in the evolving consumer goods landscape.
