Hein Schumacher steps down as Unilever CEO; replacement announced

THE WHAT? Unilever has announced that Hein Schumacher is stepping down as Chief Executive Officer and as a Board Director on March 1, 2025 and will leave the company on May 31, 2025.

THE DETAILS Current Chief Financial Officer and Executive Director, Fernando Fernandez will take the reins, Unilever said. He will receive a Fixed Pay of €1.8 million and be eligible to participate in an annual bonus and Performance Share Plans awards.

Schumacher will continue to receive his current level of Fixed Pay up to May 31, and will then be eligible for a payment in lieu of the remainder of his notice period. He will be treated as a ‘good leaver’ under the Remuneration Policy for the purposes of his outstanding incentives.

THE WHY? Schumacher’s departure was decided ‘by mutual agreement’, the Dove manufacturer said in a statement. Unilever Chairman, Ian Meakins comments, “Hein introduced and led a significant productivity programme and the commencement of the Ice Cream separation, both of which are fully on track. 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.

“While the Board is pleased with Unilever’s performance in 2024, there is much further to go to deliver best-in-class results. Having worked with Fernando closely over the last 14 months, the Board is very confident in his ability to lead a high performing management team, realise the benefits of the GAP with urgency, and deliver the shareholder value that the company’s potential demands.”

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