Unilever’s Hein Schumacher is stepping down from his function as Chief Government Officer (CEO) and director on March 1, 2025, and can go away the corporate on Might 31, 2025.
Hein Schumacher, chief government officer of Unilever Plc, throughout a Bloomberg Tv interview in London, UK, on Tuesday, Nov. 26, 2024.(Hollie Adams/Bloomberg)
Fernando Fernandez, who’s presently the Chief Monetary Officer (CFO) and Government Director, will take his place from March 21, 2025, the multinational client items firm introduced on Tuesday, February 25, 2025.
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There additionally shall be no change to Unilever’s 2025 outlook or the corporate’s medium-term steerage.
Schumacher had launched and led an essential productiveness programme and likewise initiated the demerger of the Ice Cream enterprise which has manufacturers resembling Kwality Wall’s, Cornetto and Magnum.
He “will continue to receive his current level of Fixed Pay (Euro 1,850,000) up to the cessation of his employment on 31 May 2025,” the corporate stated, including that he shall be “treated as a good leaver” underneath the remuneration coverage.
“It has been a privilege to lead Unilever,” said Schumacher. “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.”
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In the meantime, Fernando Fernandez will obtain a set pay of 1.8 million Euros and also will be eligible to take part in an annual bonus and efficiency share plan awards.
Earlier than changing into Unilever’s CFO in January 2024, he was the President of Magnificence & Wellbeing, which Unilever claims is one in all its quickest rising companies.
He additionally had held earlier roles as President of Latin America, CEO of Brazil, and CEO of Philippines for Unilever.
“Being appointed as CEO of Unilever is an honour,” stated Fernandez. “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.”
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Unilever has stated that it has presently initiated a search course of to discover a everlasting CFO to take up Fernandez’s place. Until then, Srinivas Phatak who’s presently Unilever’s Deputy CFO and Group Controller, will grow to be performing CFO.