Unilever appoints Fernando Fernandez as new CEO
Fernandez was appointed Chief Financial Officer in January 2024. Prior to this, Fernandez was the president of Unilever's Beauty & Wellbeing Business Group
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Consumer goods giant Unilever announced on Tuesday that the company's finance chief Fernando Fernandez will replace Chief Executive Officer Hein Schumacher in May this year.
Fernandez was appointed Chief Financial Officer in January 2024. Prior to this, Fernandez was the president of Unilever's Beauty & Wellbeing Business Group.
From January 2025 he took on additional responsibility for Supply Chain and Procurement, Digital & Technology, and Business Services.
Fernando is an economist from the University of Buenos Aires, Argentina. He joined Unilever in 1988. Since 2008, Fernando has led Unilever's business in the Philippines, Brazil, and the Latin American region.
Born and raised in Argentina, Fernando is married and has two daughters. He will be based in London.
"Being appointed as CEO of Unilever is an honour. Our focus will be on building a future-fit portfolio with an attractive growth footprint and delivering unmatched functional and perceivable superiority across our top 30 power brands. I have full confidence in our team's ability to propel Unilever to a global industry-leading position and create substantial value for our shareholders," Fernandez said.
Fernando will receive fixed pay of Euro 1,800,000 ($1,884,141) and be eligible to participate in an annual bonus and Performance Share Plan awards, all in line with Unilever’s existing remuneration policy.
Schumacher, who joined Unilever in July 2023, will step down from his position in March and will leave the company on 31 May.
Schumacher served as a Non-Executive Director of Unilever from October 2022 until he was appointed CEO. From January 2021 to October 2022, he was a member of the Supervisory Board of C&A AG.
Schumacher holds a Master’s degree in Political Science and International Relations from the University of Amsterdam.
Schumacher will continue to receive his current level of Fixed Pay (Euro 1,850,000) up to the cessation of his employment on 31 May 2025.
Additionally, Srinivas Phatak, the incumbent deputy chief financial officer and group controller will become the acting CFO, Unilever added.
Srinivas has served in global and local senior finance, strategy, and supply chain roles including at Hindustan Unilever Limited (HUL).
