Unilever replaces chief Schumacher with Fernandez’s financial director

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Unilever replaced the Executive Director Hein Schumacher with the Chief Fernend Fernandez, when a group fighting consumer goods activates efforts to revive his condition.

Schumacher, who has led the group since July 2023, will abandon the “mutual agreement” on March 1, said Unilever on Tuesday.

A dramatic change occurs when Unilever faces increasing pressure from investors, including American activist Nelson Pelts to improve his unsuccessful characteristics.

It is in the middle of a Wide restructuring Schumacher has been initiated, including reduced 7,500 jobs and detention of your ice cream.

The decision to remove Schumacher was made at a meeting of the Council on Monday, according to the person acquaintance with this issue, after the group’s directors concluded that Fernandez is “better suited” to fulfill the turn plan.

The man added that Fernandez was popular with investors and impressed the Unilever Capital Day Markets late last year.

Schumacher’s exit occurs less than a month after the annual results disappointed investors, striking its shares.

Unilever chairman Jan Mikins said: “I would like to thank Hein for the Unilever strategy reset, for his attention and discipline he brought to the campaign and for solid financial progress, achieved during 2024.”

Announcement of the appointment of Fernandez, Mikins said: “The council was impressed with fernando and its ability to attract changes at the rate of Fernando’s approach.”

Fernandez, who previously managed the beauty and personal hygiene of Unilever, was the main financial director since the beginning of 2024.

This is a developing story