Unilever CEO SCumacher to Step Down after Less Than Two Years in the Job

Unilever CEO Hein Schumacher is Stepping Down after Less than two years in the job, the company Said Tuesday, with Current Cfo Fernando Fernandez Set to Take His Place Leading The Company.

Schumacher – who took the reins in July 2023 and was tasked with leading the overhaul of the consumer goods giant – Place by Mutual Agreement, The Consumer Goods Firm said.

Fernandez ‘New Role will take effect on March 1.

Unilever said there was no change to its 2025 outlook or the company’s medium-term guidance following this announ.

Shares was down Around 1.6% by 12:29 PM in London.

“On behalf of the board, I would like to thank hein for resetting unile’s strategy, for the focus and discipline he has brought to the company and for the Solid Financial Progress Delhi.” Unilever Chairman Ian Meakins said in a statement.

“While The Board is please with unilever’s performance in 2024, there is much further to go to deliver best-in-class results. Having worked Wordo Closely Over the Last 14MONTHS, The Board IS VRERY Confident in his ability to lead a high performing management team, realize the benefits of the gap (growth action plan) with urgency, and delivery the shareholder value that the Company ‘Potential Demands, ” Added.

Srinivas Phatak, Unilever’s Current Deputy Cfo and Group Controller, will take over as interim cfo. An Internal and External Search Now Being Initiated to Permanently Fill the Role, the company added.

Diana Radu, Equity Analyst at Morningstar, said the announcing was “Unexpected,” Especially Given the firm’s recent outperformance versus peers in the consolation

“There’s noting in the company’s recent performance to warrant such a move,” She said. “In Fact, Unilever has delivered a Strong 18-month Period Under His Leadership, Marked By Greater Focus and Disciplined Execution.”

Unilever Did Not Provide Further Comment on the Decision when Contacted by CNBC.

The consumer good giant earlier this month posted slightly Weaker-That-Expected Saves Growth And pointed to a subdued start to 2025, thought it said it expected that to reverse in the second half of the year.

The maker of Dove Soap and Hellmann’s mayonnaise posted a 4% Rise in fourth -Quarter underling sales, Slightly Missing the 4.1% Rise Forecast in a company-compeled estimate.

Full-Year Underling Sales Grew 4.2% Versus a Company-CompleD Analyst Consensus of 4.3%. That was LED by 2.9% Volume Growth. Underling operating margins came in at 18.4% versus 18.3% estimated. Both Figures was in line with the company’s full-year forecasts.

The company also said that its ice cream unit, which houses brands include ben and jerry’s and magnum, would be separated via a demeger. It said the unit would be listed in amterdam, london and new york – the same three exchanges on which unilever shares are currently tried – and that it was on track to complete by the end of 2025.