Meakins hailed the new boss’s ‘profound knowledge of Unilever’s operations’ – Fernandez has been at the firm for 37 years – and added: ‘While the board is pleased with Unilever’s performance in 2024, there is much further to go to deliver best-in-class results.’.
Chairman Ian Meakins thanked Schumacher for ‘resetting Unilever’s strategy’ and his moves to spin-off the ice cream business behind brands including Magnum, Cornetto and Ben & Jerry’s.
Schumacher also shifted Unilever away from the ‘woke’ agenda pursued by predecessor Alan Jope that saw the company widely mocked for attempting to imbue its brands with social purpose.
In a move that stunned the City, the consumer goods giant said Hein Schumacher will be replaced at the end of the week by finance chief Fernando Fernandez.
But Russ Mould, investment director at AJ Bell, said the sudden change ‘suggests disagreements behind closed doors’, adding: ‘The board might have viewed Schumacher’s progress as being too pedestrian.’.
