Unilever Names New CEO, Reaffirms Food Brands Strategy
Unilever has appointed former H.J. Heinz executive Hein Schumacher to lead the CPG company effective July 1 at the conclusion of a month-long handover period.
Schumacher, the CEO of Dutch dairy multinational Royal FrieslandCampina for the last eight years, previously worked in finance at Unilever prior to moving to Heinz, where he held the role of chief strategy officer and later led the company’s Asia division starting in 2011.
In October, he rejoined Unilever as a non-executive director.
“Hein is a dynamic, values-driven business leader who has a diverse background of experiences and an excellent track record of delivery in the global consumer goods industry,” Unilever Chairman Nils Andersen said in the company’s press release. “He has exceptional strategic capabilities, proven operational effectiveness, and strong experience in both developed and developing markets.”
Unilever has been searching for a new chief executive since Alan Jope, its CEO since 2019, announced in September his plans to retire. Prior to that, Jope held a number of executive roles at Unilever for over 30 years, primarily in personal care.
Unilever’s leadership came under fire early last year as some investors inferred that Jope had focused too heavily on the company’s ESG goals and was sacrificing growth brands for sustainability measures.
Fundsmith founder and fund manager Terry Smith noted in his annual letter to investors in January 2022 that “Unilever seems to be labouring [sic] under the weight of a management which is obsessed with publicly displaying sustainability credentials at the expense of focusing on the fundamentals of the business.”
Prior to that, Unilever’s bid to acquire GlaxoSmithKline’s consumer brands portfolio for over $61 billion was rejected. The move was speculated to be part of Unilever’s strategy to shift the CPG company further into household goods and away from food.
The appointment of Schumacher – who has spent nearly his whole career in CPG food, dairy and beverage – signals the multinational company’s commitment to its food businesses including Helmann’s, Ben & Jerry’s Ice Cream and U.K-based brand The Vegetarian Butcher.
