Unilever has announced that current CEO Hein Schumacher will step down on March 1 and fully exit the company by May 31. Fernando Fernandez, the current CFO, will succeed him as CEO. Schumacher joined Unilever in July 2023, serving for less than two years. Previously, he was the CEO of Royal FrieslandCampina, where he led significant portfolio and organizational changes. Schumacher also worked for Heinz in the U.S., Europe, and Asia, spending his last four years in China, where he successfully led the transformation of the Asia-Pacific region.
During his first year as CEO of Unilever, Schumacher implemented decisive measures, including a global layoff of 7,500 employees, the divestiture of the ice cream business, and the reduction and sale of over 20 personal care and beauty brands. He emphasized the importance of timely action, drawing from his experience at FrieslandCampina.
Despite challenges in the beauty sector in 2024, Unilever reported growth across all business units, demonstrating robust development. On February 13, Unilever released its full-year and Q4 2024 financial results. The company achieved a record turnover of €60.761 billion, with an operating profit of €9.400 billion, a 3.7% year-over-year decline. The net profit margin stood at 10.48%. However, revenue from the Asia-Pacific region, a major contributor to Unilever's earnings, declined by 0.9% to €25.991 billion.
Fernando Fernandez has been Unilever's CFO since 2023, with extensive experience in financial and operational roles within the company.
- CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
- Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
- Double Buys: Companies that both Gurus and Insiders are buying
- Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.
