Unilever has ousted chief executive Hein Schumacher after its board lost patience with the pace of his turnaround plan for the London-listed group, replacing him with chief financial officer Fernando Fernandez.

Unilever surprised investors on Tuesday by ousting chief executive Hein Schumacher and replacing him with finance chief Fernando Fernandez, who will focus on speeding up the execution of the consumer group's turnaround strategy.

Unilever, on Tuesday, 25 February 2025. announced that Hein Schumacher is stepping down as CEO and as a board director on 1 March 2025 by mutual agreement, and will leave the company on 31 May 2025.Hein Schumacher steps down as CEO and as a board director on 1 March 2025.

Unilever said Hein Schumacher is stepping down as chief executive and will be replaced by finance chief Fernando Fernandez. The consumer-goods giant said Schumacher would step down by mutual agreement on Saturday before leaving the company on May 31.

In a surprise announcement, Unilever said its CEO was leaving and Fernando Fernandez, currently Unilever's chief financial officer and executive director, will replace him on March 1.

"The step-up from CFO to CEO by Fernandez will be liked by many investors," Jefferies analyst David Hayes said of the Unilever CEO transition.

Unilever has announced Hein Schumacher will step down as CEO within days, just 18 months after he joined the consumer goods giant from FrieslandCampina. In a statement to the London Stock Exchange today (25 February),

Unilever CEO Hein Schumacher is stepping down after less than two years in the job, the company said Tuesday. Current CFO Fernando Fernandez is set to take his place leading the company, effective March 1. Unilever said there was no change to its 2025 outlook or the company's medium-term guidance following this announcement.

Unilever announces the exit of CEO Hein Schumacher after less than two years, appointing CFO Fernando Fernandez to lead the company.

Hein Schumacher is stepping down from his role as Unilever CEO and as a board director after less than two years on the job. Schumacher will leave the company on May 31. Fernando Fernandez, who currently serves as Unilever's chief financial officer and executive director,