CFO Fernandez Takes Over as CEO of Unilever, Srinivas Phatak to Serve as Interim CFO

New Delhi, Feb 25 (NationPress) The renowned global FMCG leader Unilever has revealed that Hein Schumacher will resign from his role as Chief Executive Officer. Fernando Fernandez, currently serving as Chief Financial Officer, will assume the CEO position starting March 1, 2025.

Unilever stated, "An extensive search, both internally and externally, is underway to find a permanent CFO. Beginning on March 1, 2025, Srinivas Phatak, who is presently Unilever’s Deputy Chief Financial Officer and Group Controller, will step in as acting CFO. Srinivas has a wealth of experience in both global and local senior finance, strategy, and supply chain roles, including a successful period as CFO of Hindustan Unilever Limited. His leadership skills and diverse experience will support Fernando in effectively implementing Unilever’s strategy."

In addition, Schumacher has decided to resign as a Board Director on March 1, 2025, by mutual agreement, and will depart from the company on May 31, 2025.

Prior to his role as CFO in January 2024, Fernandez achieved notable success as the President of Beauty & Wellbeing, one of Unilever’s rapidly expanding sectors. Throughout his career as President of Latin America, CEO of Brazil, and CEO of the Philippines, he led several of the company’s most successful markets, generating impressive financial outcomes while nurturing exceptional talent.

Unilever Chairman Ian Meakins expressed gratitude, stating, "On behalf of the Board, we thank Hein for redefining Unilever’s strategy, the focus and discipline he has instilled in the company, and the solid financial advancements achieved during 2024. Hein initiated a major productivity initiative and the Ice Cream separation project, both of which are progressing well. The Growth Action Plan (GAP) has positioned Unilever for improved performance, and the Board is dedicated to hastening its execution. We appreciate Hein’s leadership and wish him all the best in his future endeavors."

Regarding Fernandez's new role as CEO, Ian Meakins stated, "The Board has been impressed with Fernando’s decisive and results-driven approach, along with his capacity to implement rapid changes. He collaborated on the development of the GAP and the productivity initiative. His solid performance record, portfolio management skills, passion for brands, and in-depth understanding of Unilever’s operations are commendable.

“Although the Board is satisfied with Unilever’s achievements in 2024, there is still significant work ahead to attain top-tier results. Having closely collaborated with Fernando over the past 14 months, the Board is confident in his capability to lead a high-performing management team, expedite the benefits of the GAP, and deliver the shareholder value that Unilever’s potential warrants.”

Schumacher remarked, "Leading Unilever has been an honor. We have made significant progress, and I take pride in what we have accomplished in such a brief timeframe."

Fernandez commented, "Being named CEO of Unilever is a privilege. Our emphasis will be on cultivating a future-ready portfolio with an enticing growth trajectory and providing unparalleled functional and perceptible excellence across our top 30 power brands. I am fully confident in our team’s ability to elevate Unilever to a leading global industry position and generate substantial value for our shareholders. I extend my gratitude to Hein for his values-driven leadership and performance focus. I wish him every success in his upcoming ventures."

Unilever confirmed that there will be no alterations to its 2025 outlook or the company’s medium-term guidance.