Unilever's new CEO to receive 1.8 million euros fixed salary; outgoing CEO gets exit package
Hein Schumacher, who has been at the helm of the consumer goods giant since July 2023, will continue to receive his current fixed salary of 1.85 million euros until his departure.
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Recently, Unilever announced that Fernando Fernandez, the company's current Chief Financial Officer (CFO), will take over as Chief Executive Officer (CEO) on March 1, 2025.
The newly appointed chief will receive a fixed annual salary of 1.8 million euros, along with additional performance-based incentives under Unilever's remuneration policy.
Fernandez's compensation package includes eligibility for an annual bonus and Performance Share Plan awards, with further details set to be disclosed in Unilever's upcoming Remuneration Report.
The transition comes as Hein Schumacher, Unilever's CEO and Board Director, is set to step down on March 1, 2025, and officially leave the company on May 31, 2025.
Schumacher, who has been at the helm of the consumer goods giant since July 2023, will continue to receive his current fixed salary of 1.85 million euros until his departure.
He will also be entitled to a payment in lieu of his remaining notice period and will be classified as a "good leaver", ensuring continued benefits from his outstanding incentives under Unilever's remuneration framework.
As part of the leadership shake-up, Unilever has also initiated an internal and external search for a permanent CFO. In the interim, Deputy CFO and Group Controller Srinivas Phatak will assume the role of acting CFO, effective March 1, 2025.
