Unilever (NYSE:UL) 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 — will stand down as CEO and board director in March and will leave the company on May 31. His departure is taking 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 announcement.
“On behalf of the Board, I would like to thank Hein for resetting Unilever’s strategy, for the focus and discipline he has brought to the company and for the solid financial progress delivered during 2024,” Unilever Chairman Ian Meakins said in a statement.
UL shares caved 85 cents, or 1.5%, in New York Tuesday to $55.47.
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