In a surprising move, Unilever, the global consumer goods giant behind brands like Ben & Jerry’s, Hellmann’s, and Dove, has announced the immediate departure of CEO Hein Schumacher. Schumacher, who has held the position for less than two years, will step down on March 1. He will be succeeded by Fernando Fernandez, the company’s current Chief Financial Officer and a 37-year veteran of Unilever.
The leadership shakeup comes as Unilever seeks to accelerate its ongoing turnaround strategy. Despite reporting solid performance in 2024, the company’s board expressed the need for faster progress to achieve best-in-class results. Unilever Chairman Ian Meakin stated that while the board is pleased with the company’s recent performance, there is still significant work to be done to meet its goals.
Schumacher, who rejoined Unilever in 2023 after a career spanning over two decades in the food industry, including nearly 11 years at H.J. Heinz, has been at the helm during a period of significant restructuring. Last year, Unilever announced plans to cut approximately 7,500 jobs as part of a broader effort to streamline operations, boost sales, and improve productivity. The company also revealed its intention to spin off its $9 billion ice cream division, which includes popular brands like Ben & Jerry’s, Good Humor, Talenti, and Klondike.
Fernandez, who has been with Unilever since 1988, brings extensive experience to the CEO role. Before serving as CFO, he was president of Unilever’s beauty and wellbeing division, one of the company’s fastest-growing segments. Meakin praised Fernandez for his decisive leadership, results-oriented approach, and deep understanding of Unilever’s operations. He emphasized that Fernandez’s track record of driving change and managing portfolios makes him well-suited to lead the company through its next phase of transformation.
The leadership transition comes at a challenging time for Unilever, particularly in the U.S. market, where consumers are tightening their spending amid persistent inflation. Fernandez will take the reins less than a year after Unilever unveiled its restructuring plan, which aims to create a simpler, more focused company. The separation of the ice cream business is a key component of this strategy.
In the interim, Srinivas Phatak, Unilever’s deputy CFO, will assume the role of CFO while the company searches for a permanent replacement.
This sudden change in Unilever’s C-suite reflects a broader trend of leadership shakeups in the food and beverage industry. Recent months have seen similar transitions at major companies, including Campbell’s appointment of Mick Beekhuizen as CEO, Hershey veteran Michele Buck’s announcement of her planned retirement in 2026, and Laurent Freixe’s appointment as CEO of Nestlé in September 2024.
As Unilever moves forward under new leadership, the company remains focused on delivering stronger results and navigating the evolving consumer outlook.