Schumacher defended his approach and record as CEO and said he regretted leaving Unilever earlier than anticipated.

Unilever's board, which includes billionaire activist investor Nelson Peltz, was unified in its decision to oust CEO Hein Schumacher, a source familiar with the board's thinking told Reuters.

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.

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.

Unilever’s board elevated CFO Fernando Fernandez as CEO. The Anglo-Dutch FMCG major hailed Fernanadez’s ability to ‘drive change at speed,’ hinting that the board seeks a faster revival.

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 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.

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,