Unilever has undergone a significant leadership change, with the announcement that Hein Schumacher will step down as Chief Executive Officer and Board Director on March 1, 2025. His final day at the company will be May 31, 2025. During this transition period, Schumacher will continue to receive his current fixed compensation until the end of May. Following his departure, he will be eligible for a payment in lieu of the remainder of his notice period. Under the company's remuneration policy, Schumacher will be classified as a 'good leaver' for the purposes of any outstanding incentives.
Fernando Fernandez, the current Chief Financial Officer and Executive Director, has been appointed as the new CEO. He will assume his new role on March 1, 2025. With an annual fixed pay of €1.8 million, Fernandez will also participate in performance-based bonus and share plans. The decision for this leadership change was made by mutual agreement, reflecting the board's strategic vision for the future. Unilever Chairman Ian Meakins expressed gratitude for Schumacher’s contributions, particularly in leading the productivity program and initiating the separation of the Ice Cream division. Both initiatives are progressing smoothly, setting a solid foundation for the company's growth.
The appointment of Fernandez signals Unilever's commitment to accelerating the execution of its Growth Action Plan (GAP). The board is confident in his ability to lead the company towards achieving top-tier results. While acknowledging the positive performance in 2024, the board recognizes there is more work to be done to reach best-in-class standards. By leveraging Fernandez's expertise and leadership, Unilever aims to unlock its full potential and deliver enhanced shareholder value. This transition marks a new chapter for the company, one filled with promise and opportunity for continued success.