In a surprise announcement, Unilever said its CEO was leaving and Fernando Fernandez, currently Unilever's chief financial officer and executive director, will replace him on March 1.

(Reuters) - Unilever said on Tuesday Hein Schumacher will step down as CEO and be replaced by finance chief Fernando Fernandez. Schumacher, who joined in July 2023, will step down as CEO in March and will leave the company on May 31, the consumer goods giant said.

"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.