Unilever CEO Schumacher to step down after less than two years in the job

Core Viewpoint - Unilever's CEO Hein Schumacher is stepping down after less than two years, with CFO Fernando Fernandez set to replace him, effective March 1, 2024 [1][2] Group 1: Leadership Changes - Hein Schumacher will leave his position as CEO and board director in March 2024, with his departure being by mutual agreement [1] - Fernando Fernandez will assume the role of CEO, while Srinivas Phatak will take over as interim CFO [4] Group 2: Company Performance and Outlook - Unilever's 2025 outlook and medium-term guidance remain unchanged following the leadership announcement [2] - The company has shown solid financial progress during 2024, with a focus on resetting its strategy under Schumacher's leadership [2][3] - Unilever's performance over the past 18 months has been strong, marked by greater focus and disciplined execution [5] Group 3: Market Reaction - Following the announcement, Unilever's shares fell approximately 1.6% by midday in London [2] - The decision to change leadership was described as unexpected, especially given the company's recent outperformance compared to peers in the consumer goods sector [4][5]