Unilever’s CEO, Hein Schumacher, recently announced his resignation. This decision comes after a brief tenure of fewer than 18 months in the role.
Schumacher will officially depart at the end of May, with Fernando Fernandez, currently Unilever’s CFO, set to take over as CEO.
So, who is Fernandez, and how does his extensive experience equip him for the role of CEO?
Roles within Unilever
Fernandez brings nearly 40 years of experience within Unilever, mirroring the trajectory of Laurent Freixe, the newly appointed CEO of Nestlé, who also possesses deep-rooted experience in his company.
In stark contrast, Schumacher’s background involved various roles across different businesses before joining Unilever in 2023.
Currently, Fernandez serves as Unilever’s CFO, a position he has held since January 2024. Additionally, he recently assumed responsibilities in supply chain, procurement, digital technology, and business services.
These recent roles are part of his illustrious career at Unilever, which also included a significant position as the president of the Beauty and Wellbeing business group.
Throughout his career at the company, Fernandez has taken on diverse roles, including executive vice president (EVP) of Brazil and Latin America, senior vice president (SVP) of the Philippines, and vice president of hair care for Latin America and Europe, among others.
Fernandez commenced his journey at Unilever in 1988 as a production cost analyst in Argentina.
He holds a degree in economics from the University of Buenos Aires, graduating in 1990.
What will he do?
In his statement, Fernandez expressed his intent to focus on constructing “a future-fit portfolio with an attractive growth footprint” and to emphasize “unmatched functional and perceivable superiority” in Unilever’s top 30 power brands.
Chairman Ian Meakins commended Fernandez’s “decisive and results-oriented approach,” highlighting his capability to “drive change at speed.”
Meakins emphasized that Fernandez is vital for advancing the productivity program and possesses a “love of brands,” along with a “profound knowledge of Unilever’s operations.”
Starting 1 March, Srinivas Phatak, Unilever’s deputy chief financial officer and group controller, will take on the role of acting CFO.
