Unilever Replaces CEO Schumacher After Under Two Years at Helm | Global News Avenue

Unilever (UlHein Schumacher resigned less than two years later CEO (CEO) Consumer goods giant.

Schumacher will be replaced Chief Financial Officer (CFO) Unilever said Fernando Fernandez previously led the beauty and welfare division of the conglomerate, one of its fastest growing businesses.

The manufacturer of Dove Soap and Hellmann’s Mayonnaise said Schumacher, who has led Unilever since July 2023, will serve as CEO on March 1 and serve as a director of the “Common Agreement.” Unilever did not give any reason for Schumacher to leave.

UBS calls CEO an “accident”

Ian Meakins, chairman of Unilever, said Schumacher’s moves, including his cost strategy and spin off of Ben & Jerry’s The rest of the ice cream sector is “completely on track.” The company had previously stated that the separation would be At the end of 2025And reiterated the goal when the 2024 results were announced last month. Unilever said Tuesday there was no change in its 2025 outlook or mid-term guidance.

In a report Tuesday, UBS analysts called Schumacher’s departure a “accident” and added that they believe the decision was a desire of the board to accelerate the pace of change at Unilever (while still remains). Totally committed to the current strategy). Analysts on the stock’s “sell” rating said Fernandez is “well-known to the investor community.”

Unilever listed shares fell 1% in listed trading, but grew 11% in meetings entering Tuesday over the past 12 months.