FT News Briefing Unilever’s CEO gets the boot
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Feb 26, 2025 Kyiv has struck a minerals deal with Washington, a significant move in resource development amid its ongoing challenges. Unilever faces a shake-up as its CEO is ousted, surprising analysts and investors alike. This leadership change raises questions about corporate strategy and performance. Additionally, Silicon Valley is shifting toward conservative values, affecting job security and employee morale, as tech leaders reconsider their roles in activism and political participation.
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Unilever CEO Ousted
- Unilever CEO Hein Schumacher was ousted after less than two years.
- The company's share price dropped about 2% initially but later recovered.
Schumacher's Mandate
- Schumacher was brought in to turn around Unilever's lackluster performance.
- Despite a restructuring plan and job cuts, his efforts weren't enough for the board.
Fernandez's Style
- Unilever's board believes new CEO Fernando Fernandez is better suited to push change.
- Fernandez is described as more aggressive and results-oriented than Schumacher.