Unilever CEO Hein Schumacher To Step Down, Fernando Fernandez To Succeed; Backs Outlook; Stock Down

(RTTNews) - Consumer good major Unilever PLC (UL, ULVR.L) Tuesday announced that Chief Executive Officer and Board Director Hein Schumacher is stepping down from the roles with effect from March 1. Fernando Fernandez, currently Chief Financial Officer and Executive Director, will succeed Schumacher as CEO.

Further, the company reaffirmed 2025 outlook and medium-term guidance.

Following the news, Unilever shares were losing around 3 percent in London.

Regarding the appointment, the company noted that Deputy CFO and Group Controller Srinivas Phatak will serve as acting CFO. The company is starting an internal and external search for a permanent CFO.

CEO Schumacher will leave the company on May 31.

Previously, Fernandez held leadership roles as President of Latin America, CEO of Brazil, and CEO of the Philippines.

The new interm CFO, Phatak, has served in global and local senior finance, strategy, and supply chain roles including as CFO of Hindustan Unilever Limited.

Unilever is currently trading at 4,339.00 pence, 3.2 percent lower on the London Stock Exchange.