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Unilever expelled CEO Hein Schumacher less than two years later and replaced him with Chief Financial Officer Fernando Fernandez to strengthen the consumer goods group's efforts to revive the property. .
Schumacher, who has been leading the group since July 2023, will step down on March 1 by a “mutual agreement,” Unilever said Tuesday.
As Unilever is experiencing increasing pressure from investors, including US activist Nelson Peltz, abrupt changes will occur to improve its unshiny performance.
This is amid the midst of a widespread restructuring launched by Schumacher, including cutting jobs of 7,500 people and ordering an ice cream business.
The decision to remove Schumacher will be made at the board meeting on Monday after the group director concluded that it was “suitable” to implement the turnaround plan. Ta.
The person added that Fernandez was popular with investors and was impressed by Unilever's capital market day late last year.
Schumacher's exit comes less than a month after the annual results disappoint investors and struck out the stock.
“I would like to thank Hein for resetting Unilever's strategy,” said Ian Meakkins, Unilever's chairman.
Announcement of Fernandez's appointment, Meakins said: “The board was impressed with Fernando's decisive, outcome-oriented approach and his ability to drive change at speed.”
Fernandez, who previously led Unilever's beauty and personal care business, has been Chief Financial Officer since early 2024. Schumacher will leave the group on May 31st.
