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The Latest Breaking News from Hein Schumacher

Unilever Says It Can't Hire Top US Talent Due to Strict UK Pay Rules — Even as CEO Could Earn €23.8M

Unilever says UK pay constraints cost it two top US candidates, even as CEO Fernando Fernández stands to earn up to €23.8m under a proposed new pay structure.

International Business Times UK

Unilever to update on turnaround under new boss amid mounting trade pressure

The company is midway through a major turnaround plan which involves 7,500 previously announced job cuts and selling its ice cream division.

Evening Standard

Unilever's CEO shakeup suggests that growth must be fast and outsized

Hein Schumacher's tenure as Unilever's CEO ended in less than two years because the board wanted a more rapid pace of transformation.

Fortune

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read the most diverse news in one place.

Inside Nelson Peltz's civil war at Unilever

Also: BP falls back in love with oil, an attempted coup at City Developments Limited.

Fortune

A brutal ousting at Unilever? Not really. Boards shouldn’t be sentimental about chief executives

Getting rid of Hein Schumacher may not follow the usual FTSE 100 script, but boards should be free to make clinical judgments if there’s a better option

The Guardian - UK

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

"The step-up from CFO to CEO by Fernandez will be liked by many investors," Jefferies analyst David Hayes said of the Unilever CEO transition.

Fortune

Why has Unilever CEO Hein Schumacher stepped down and who is replacing him?

Mr Schumacher was named CEO in 2023 following the retirement of Alan Jope but has now stepped down in a surprise move

Evening Standard

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Unilever ousts CEO Hein Schumacher to speed turnaround

Marmite, Dove and Ben & Jerry’s maker announces finance chief Fernando Fernandez will take over in surprise move

The Guardian - UK

Unilever shares drop after announcing surprise CEO departure partway through strategy shift

Hein Schumacher will leave the role ‘by mutual agreement’ on March 1, replaced by chief financial officer Fernando Fernandez

The Independent UK

Unilever boss leaving after less than two years at the helm

Hein Schumacher will leave the role ‘by mutual agreement’ on March 1 and be replaced by recently appointed chief financial officer Fernando Fernandez.

Evening Standard

Unilever chooses Amsterdam for primary listing of ice-cream business

In latest blow to London stock market, split-off business to go Dutch – but boss denies move is ‘snub to UK’

The Guardian - UK

Unilever warns of a ‘subdued’ start to 2025 as ice cream triple listing looms, knocking investor confidence

“Consistency is not about one good year. We know there is a lot still to do," Unilever CEO Hein Schumacher said.

Fortune

Unilever’s ice cream arm set for Amsterdam main listing in blow to London

The Ben & Jerry’s and Magnum maker announced plans last year for a demerger of the ice cream arm as part of a major turnaround plan.

Evening Standard

Unilever wants to sell brands worth €1 billion in sales collectively to trim the fat, reports say

Unilever is powering through a strategic overhaul, which has so far included a wave of layoffs and a spinoff plan for its ice cream business.

Fortune

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The Guardian - UK

Unilever sells Russian business after pressure from campaigners

Dove maker’s deal with local manufacturer Arnest Group includes four factories

Fortune

Unilever lauds ‘carry-over pricing’ from historic inflation for $6.4 billion profits

The Ben & Jerry's owner says its starting to see negative pricing in some markets, but Europeans are still absorbing the group's rising costs.

The Guardian - UK

Unilever shares jump as it defends price rises despite higher profits

Owner of Marmite, Dove and Ben & Jerry’s says margins of 19.6% were helped by ‘carry-over pricing’

The Guardian - UK

Shareholders back £7m pay rise for London Stock Exchange boss

Vote to double David Schwimmer’s maximum pay levels comes as fear grow about exodus of firms from City

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Ballotpedia

ESG developments this week

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the environmental, social, and corporate governance (ESG) trends and events that characterize the growing intersection between business and politics.

The Guardian - UK

Unilever to scale back environmental and social pledges

Environmental groups say bosses should ‘hang their heads in shame’ as firm bows to pressure from shareholders to cut costs

Barchart

Unilever CEO Asks: Who Wants Ice Cream?

Unilever is looking to unload its low-growth, low-profit ice cream business. It is the largest in the world, with a 20% market share - more than double its nearest competitor - and should generate around $17 billion for the company. What else does new CEO Hein Schumacher have to unveil…

Reason

No Ice Cream Price Gouging Thanks to Substitutes

Unilever’s split from its ice cream division shows market share and market power are very different concepts.

The Guardian - UK

Schumacher’s plan to offload Unilever’s ice-creams has a very familiar flavour

Shareholders may welcome the change in direction, but the chief executive’s predecessors used similar tactics

Evening Standard

Marmite-to-Dove maker Unilever to cut 7500 jobs under £14m CEO's shake-up

With the cuts being ‘predominantly office based’, its London HQ in Victoria could take a big hit

The Guardian - UK

Unilever boss could be paid up to €17.4m if he hits maximum targets

Group could face another revolt by shareholders after 60% voted against remuneration report last year

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