LONDON — Unilever named its current chief financial officer, Fernando Fernandez, as its next chief executive officer. Fernandez replaces Hein Schumacher, who is stepping down on March 1.

“On behalf of the board, I would like to thank Hein for resetting Unilever’s strategy, for the focus and discipline he has brought to the company and for the solid financial progress delivered during 2024,” said Ian Meakins, chairman at Unilever.

“Hein introduced and led a significant productivity program and the commencement of the ice cream separation, both of which are fully on track,” Meakins continued. “The ‘Growth Action Plan’ has put Unilever on a path to higher performance and the board is committed to accelerating its execution. We are grateful for Hein’s leadership, and we wish him the very best for the future.”

Meakins said the board was impressed with Fernandez’s “decisive and results-oriented approach, and his ability to drive change at speed. He partnered in the development of the [‘Growth Action Plan’ ] and in driving the productivity program. He has a strong track record of performance and portfolio management, a love of brands and a profound knowledge of Unilever’s operations.”

Fernandez has been Unilever’s CFO since January 2024. Prior to becoming CFO, Fernandez was president of the company’s Beauty and Wellbeing unit.

Schumacher was named Unilever PLC’s CEO in January 2023. He replaced Alan Jope. Schumacher joined Unilever from Royal FrieslandCampina where he previously was CEO.

Srinivas Phatak, currently deputy CFO and group controller, has been named acting CFO. The company said it is currently searching for a permanent CFO.