On February 25, Unilever announced that its Chief Executive Officer (CEO) and Board Director, Hein Schumacher, will step down from his role on March 1, 2025, and leave the company on May 31, 2025. Fernando Fernandez, currently serving as the company’s Chief Financial Officer (CFO), will take over as the new CEO.
Schumacher was appointed CEO in July 2023, succeeding Alan Jope. During his tenure, he contributed significantly to Unilever’s business growth in 2024, spearheading the company’s Growth Action Plan (GAP). He also initiated the separation of Unilever’s ice cream business and drove productivity improvements across the company.
Regarding Schumacher’s departure, Unilever Chairman Ian Meakins stated: “On behalf of the Board, I would like to thank Hein for resetting Unilever’s strategy, for the focus and discipline he has brought to the company and for the solid financial progress delivered during 2024.”
Meakins further acknowledged Schumacher’s efforts, adding, “Hein introduced and led a significant productivity programme and the commencement of the Ice Cream separation, both of which are fully on track. The Growth Action Plan (GAP) has put Unilever on a path to higher performance and the Board is committed to accelerating its execution. We are grateful for Hein’s leadership, and we wish him the very best for the future.”
Hein Schumacher /Courtesy of Unilever
Fernando Fernandez to Lead Unilever as CEO
Fernandez, who took on the role of CFO in January 2024, previously served as President of Unilever’s Beauty & Wellbeing division, one of the company’s fastest-growing segments. He also has a strong track record as President of Latin America, CEO of Brazil, and CEO of the Philippines, where he successfully led key markets and delivered strong financial results.
Commenting on Fernandez’s leadership capabilities, Meakins said: “The Board has been impressed with Fernando’s decisive and results-oriented approach and his ability to drive change at speed. 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.”
While satisfied with Unilever’s performance in 2024, Meakins acknowledged that there is still much work to be done to achieve world-class results. “Having worked with Fernando closely over the last 14 months, the Board is very confident in his ability to lead a high performing management team, realise the benefits of the GAP with urgency, and deliver the shareholder value that the company’s potential demands.”
Expressing his enthusiasm for his new role, Fernandez stated: “Our focus will be on building a future-fit portfolio with an attractive growth footprint and delivering unmatched functional and perceivable superiority across our top 30 power brands. I have full confidence in our team’s ability to propel Unilever to a global industry-leading position and create substantial value for our shareholders.”
Srinivas Phatak Appointed as Interim CFO
With Fernandez transitioning to CEO, Srinivas Phatak will take over as Interim CFO from March 1, 2025. Phatak currently serves as Unilever’s Deputy CFO and Group Controller and previously held the position of CFO at Hindustan Unilever, headquartered in Mumbai, Maharashtra, India. His leadership experience and financial expertise make him well-equipped to support Unilever’s strategic initiatives.
A formal selection process for a permanent CFO will be conducted both internally and externally in the coming months.
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