Big Change at Unilever: CFO Fernando Fernandez to Become New CEO and Lead Company’s Growth
Unilever, the global FMCG leader, announced a significant leadership transition on Tuesday, revealing that Hein Schumacher will step down as the company's Chief Executive Officer (CEO). Fernando Fernandez, the current Chief Financial Officer (CFO), will assume the role of CEO effective March 1, 2025.
New Delhi: Unilever, the global FMCG leader, announced a significant leadership transition on Tuesday, revealing that Hein Schumacher will step down as the company’s Chief Executive Officer (CEO). Fernando Fernandez, the current Chief Financial Officer (CFO), will assume the role of CEO effective March 1, 2025.
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Acting CFO Appointment
In conjunction with Schumacher’s departure, Unilever has appointed Srinivas Phatak, the company’s Deputy CFO and Group Controller, as the acting CFO starting from March 1, 2025. Phatak brings extensive experience, having previously served as CFO of Hindustan Unilever Limited, as well as holding global and local senior finance, strategy, and supply chain roles.
A search process will be launched for a permanent CFO, as Unilever ensures a smooth leadership transition.
Hein Schumacher Steps Down as CEO
Hein Schumacher has decided to step down as CEO and Board Director, effective March 1, 2025, by mutual agreement. He will leave the company entirely on May 31, 2025. During his tenure, Schumacher played a crucial role in reshaping Unilever’s strategy, focusing on productivity, and overseeing key initiatives such as the Ice Cream separation.
Unilever Chairman, Ian Meakins, expressed gratitude for Schumacher’s leadership, noting that his contributions significantly advanced the company’s strategy and financial progress in 2024.
Fernando Fernandez Appointed CEO
Fernando Fernandez’s appointment as CEO follows a successful tenure as President of Unilever’s Beauty & Wellbeing division, one of the company’s fastest-growing sectors. Prior to becoming CFO in January 2024, Fernandez led some of Unilever’s top-performing markets, such as Brazil and the Philippines, and developed exceptional talent within the company.
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Unilever’s Board expressed strong confidence in Fernandez’s ability to lead the company forward, highlighting his decisive approach and his involvement in developing the Growth Action Plan (GAP), which aims to accelerate Unilever’s performance and deliver substantial shareholder value.
Unilever’s Strategy Under New Leadership
The Board praised Fernandez’s proven track record in portfolio management and performance, emphasizing that his leadership will be pivotal in driving the implementation of the GAP and ensuring the company’s future growth. Fernandez’s vision for Unilever’s portfolio focuses on building a future-fit business and ensuring superior quality across the company’s top 30 power brands.
Schumacher Reflects on His Legacy
In his statement, Hein Schumacher expressed pride in the progress made during his leadership, acknowledging the hard work of the Unilever team and the strides taken toward achieving the company’s strategic goals.
No Change in 2025 Outlook
Unilever confirmed that there would be no change to its 2025 outlook or medium-term guidance, ensuring continuity in the company’s financial trajectory under the new leadership.
Unilever’s future appears poised for continued growth and transformation under Fernandez’s leadership, with a strong focus on delivering enhanced shareholder value and fostering innovation across its global portfolio.
