Unilever Board Update: Hein Schumacher Steps Down as CEO and CFO Fernando Fernandez Takes Over
[Introduction: Unilever Board Takes a New Turn] **
Unilever, a leading consumer goods company, has announced a significant change in its leadership. Effective 1 March 2025, Hein Schumacher will step down as Chief Executive Officer and Board Director. He will leave the company on 31 May 2025. This news comes as a shock to investors and employees alike, but it also presents an opportunity for a new era of growth and transformation under the leadership of the new CEO, Fernando Fernandez.
[Hein Schumacher’s Tenure and Achievements] **
Hein Schumacher, who has been at the helm of Unilever for a significant period, has led the company through a period of transformation and growth. During his tenure, he has reset the company’s strategy, introduced a significant productivity program, and commenced the separation of the Ice Cream business. These initiatives have resulted in solid financial progress and a clear path forward for the company.
[Fernando Fernandez: The New CEO] **
Fernando Fernandez, currently Unilever’s Chief Financial Officer, will take over as CEO on 1 March 2025. With a strong track record of performance and portfolio management, he is well-positioned to lead the company to new heights. As the President of Beauty & Wellbeing, he has delivered exceptional results, and his experience in leading some of the company’s best-performing markets will be invaluable in his new role.
[Unilever’s Future Under Fernando Fernandez] **
In his capacity as CEO, Fernando Fernandez will focus on building a future-fit portfolio with an attractive growth footprint and delivering unmatched functional and perceived superiority across Unilever’s top 30 power brands. He has full confidence in the company’s ability to propel itself to a global industry-leading position and create significant value for its shareholders.
[Remuneration Changes and Announcements] **
Hein Schumacher will receive his current level of fixed pay until the cessation of his employment on 31 May 2025. He will then be eligible for a payment in lieu of the remainder of his notice period. Fernando Fernandez, on the other hand, will receive a fixed pay of €1,800,000 and will be eligible to participate in an annual bonus and Performance Share Plan awards, all in line with Unilever’s existing remuneration policy.
[Conclusion] **
The news of Hein Schumacher’s departure and the appointment of Fernando Fernandez as CEO comes as a significant development in Unilever’s history. With his background in finance and experience in leading high-performing markets, Fernando is well-placed to lead the company to new heights. As the Unilever Board continues to evolve, one thing is certain – the company will remain committed to delivering best-in-class results and creating value for its shareholders.
Key Takeaways:
- Hein Schumacher will step down as CEO and Board Director on 1 March 2025.
- Fernando Fernandez will take over as CEO on 1 March 2025.
- Schumacher will continue to receive his current level of fixed pay until 31 May 2025.
- Fernandez will receive a fixed pay of €1,800,000 and will be eligible to participate in an annual bonus and Performance Share Plan awards.
- The Board is committed to accelerating the execution of the Growth Action Plan (GAP) to deliver best-in-class results.
Related News:
- Unilever: Hein Schumacher to Step Down as CEO [Source: Bloomberg]
- Unilever Appoints New CEO as Hein Schumacher Leaves [Source: Financial Times]
- Unilever’s CEO Quits, CFO Takes Over [Source: The Guardian]
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