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Fortune

Prarthana Prakash

Unilever bets on ‘maverick’ new CEO to accelerate shake-up, ousting Hein Schumacher

Unilever Hein Schumacher David Hayes Fernando Fernandez Jefferies Nestlé

hein schumacher (Credit: Vivian Wan—Bloomberg/Getty Images)

Unilever’s CEO Hein Schumacher was ousted on Tuesday, just 18 months after taking the helm, as the company’s turnaround plan, involving cost cuts and prioritizing top brands, intensifies.

Schumacher will step down from the role on Saturday before leaving the company on May 1. CFO Fernando Fernandez will replace him.

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