CEO Hein Schumacher on his Shock Departure From Unilever
Hein Schumacher has defended his "record and approach" at Unilever after the company announced his departure as CEO.
Despite calling his time at Unilever "too short", Hein expressed pride in his achievements with the FMCG giant, including a "refocused sustainability agenda" and "decisive shift to digital and social-first marketing and commerce".
Hein, who took the reins as CEO in July 2023, has been replaced by Fernando Fernandez who, until recently, served as Chief Financial Officer. He will officially depart the company on 31 May.
"I have found my period as CEO inspiring and very rewarding," said Hein, writing on LinkedIn. "We have changed and achieved an incredible amount at Unilever in a short period of time: a strategy reset, a new structure, portfolio rebasing, productivity improvement, refocused sustainability agenda, initiated a cultural transformation, drove significantly improved results and made a decisive shift to digital and social-first marketing and commerce.
"Throughout this journey, I have strived to balance swift change, clear direction and strong business execution with a desire to move at the right pace for the company."
Hein Schumacher: Leading Unilever 'a privilege'
Confirming the leadership transition last week, Ian Meakins, Chairman at Unilever, saluted Hein for "resetting Unilever’s strategy", as well as the "focus and discipline he has brought to the company".
Ian went on to highlight the "solid financial progress" that the outgoing CEO helped deliver in 2024.
"Hein introduced and led a significant productivity programme and the commencement of the Ice Cream separation, both of which are fully on track," Ian continued.
"The Growth Action Plan (GAP) has put Unilever on a path to higher performance and the board is committed to accelerating its execution. We are grateful for Hein’s leadership and we wish him the very best for the future."
In his statement, Hein added: "I consider my time at Unilever too short. But I am proud of what we as a Unilever team have achieved. And I stand by my record and approach. It has certainly been a privilege to lead this phenomenal company and to work alongside so many talented and committed people.
"I wish everyone at Unilever the very best in driving the Growth Action Plan 2030 successfully and in taking the company from strength to strength in the years ahead."
Praise for new CEO Fernando Fernandez
Unilever's new CEO Fernando Fernandez assumed the CFO position in January 2024, having previously seen success as President of Beauty & Wellbeing – one of Unilever’s fastest-growing divisions.
This followed tenures as President Latin America, CEO Brazil and CEO Philippines. While heading up some of the company’s best-performing markets, Fernando managed to deliver strong financial results and developing exceptional talent across numerous geographies.
Ian highlighted that the board at Unilever has been impressed with Fernando’s "decisive and results-oriented approach and his ability to drive change at speed".
Paying tribute to his successor, Hein said: "I will transition my responsibilities starting tomorrow to Fernando, a great leader whom I have thoroughly enjoyed working alongside during my tenure as CEO.
"The goal of the leadership change is to accelerate the pace of our strategy execution and realise swift value creation."
Unilever previously confirmed that a search process, both internal and external, was under way to appoint a permanent CFO. In the interim, Srinivas Phatak, currently Deputy CFO and Group Controller, is acting CFO.
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