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Unilever has appointed current CFO Fernando Fernandez as successor of CEO Hein Schumacher, after the latter’s unexpected departure. Schumacher, who initiated a major reorganisation at the multinational, is leaving after just twenty months in charge.
Unexpected departure
Schumacher will step down as CEO on 1 March – by mutual agreement – and will leave the company fully on 31 May, Unilever stresses in a press release. The departure is unexpected: Schumacher only joined Unilever from FrieslandCampina in 2023.
Schumacher pushed through some major changes at Unilever: he decided to cut off several well-known Dutch food brands, including Unox, Conimex and De Vegetarische Slager. His opinion that the multinational had to focus on its thirty largest brands, also led to spinning off the ice cream division (with brands like Cornetto and Magnum). As no interested buyer was found, the division will go to the stock exchange as a separate entity.
Continued policies
Schumacher calls it a “privilege” to have lead Unilever: “We have made real progress and I am proud of what we have achieved in a short period of time. With a clear strategy, a portfolio reset in motion and a strong leadership team in place, I look forward to seeing Unilever move from strength to strength in the future.”
Successor Fernandez will probably continue the broad outlines of Schumacher’s policy from next week: “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”, he added.
