04:02 AM EST, 02/25/2025 (MT Newswires) -- Unilever ( UL ) said Tuesday it has appointed Chief Financial Officer Fernando Fernandez as chief executive officer, succeeding Hein Schumacher, effective March 1.

Schumacher will step down from the role by "mutual agreement" and will leave the company on May 31, the consumer goods giant said.

Fernandez has served as CFO since January 2024.

Deputy CFO Srinivas Phatak will assume the role of acting CFO while the company conducts a search process, it said.