synopsis

CFO and executive director Fernando Fernandez has been named CEO effective March 1

U.S.-listed shares of Unilever were in the spotlight Tuesday after the company announced CEO Hein Schumacher is stepping down from his position by mutual agreement, with retail sentiment turning cautious.

US shares of Unilever were down 0.8% on Tuesday, falling 0.20% in after-hours trading.

Schumacher will leave the company on May 31, said the company. Unilever CFO and executive director Fernando Fernandez has been named CEO effective March 1.

There is no change to Unilever’s 2025 outlook or the company’s medium-term guidance, the conglomerate said.

Prior to becoming CFO in January 2024, Fernandez served as president of Beauty & Wellbeing, one of Unilever’s fastest-growing businesses, the company said. He also served as president Latin America, CEO Brazil and CEO Philippines.

“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. Hein introduced and led a significant productivity programme and the commencement of the Ice Cream separation, both of which are fully on track,” said Unilever Chairman Ian Meakins.

Meakins added the company’s “growth action plan (GAP)” has put Unilever on a path to higher performance. The plan introduced in 2023 includes a focus on improving operating performance and competitiveness.

Meakins said of Fernandez’s record that the board was “impressed” with his “decisive and results-oriented approach” and noted his strong track record of performance and portfolio management.

Sentiment on Stocktwits turned ‘neutral’ from ‘bullish’ a day ago. Message volume was ‘extremely low’

According to a CNBC report, Unilever had a weak start in 2025 after it posted weaker-than-expected sales numbers.

The company also is in the process of separating Ben and Jerry’s and Magnum in its ice cream unit via a demerger with plans to list them in Amsterdam, London and New York.

Unilever stock is down 1.41% year-to-date.

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