The seismic shift at Unilever has been underway for nearly a year, with CEO Hein Schumacher orchestrating a thorough overhaul of the company's operational framework. Following his appointment in July 2023, Schumacher spearheaded a comprehensive restructuring process that culminated in a major reset in October. However, in a surprise move, Schumacher announced his departure in February, paving the way for CFO Fernando Fernandez to take the reins as CEO. The move was met with a mix of surprise and skepticism from the market, given Schumacher's reputation for developing a successful strategy, which is now beginning to bear fruit.
Fernandez's ascension to the top spot has been accompanied by a series of strategic sales and acquisitions. The company shed its Russian subsidiary in the third quarter, with the business being sold to Arnest Group, a Russian manufacturer of perfumes, cosmetics... and household products. Unilever sold off Elida Beauty, a portfolio of over 20 brands including Caress, Timotei, and Tigi, to Yellow Wood Partners in June.
Notably, Vasiliki Petrou, "the architect of Unilever's Prestige division," "departed the company last June.".. marking the end of an era.
Unilever's Beauty division outperformed overall sales significantly.
The Beauty division of Unilever has emerged as a shining star, outperforming the company's overall sales in a year marked by significant upheaval. The division's success can be attributed to a multifaceted approach that has yielded impressive results. **Key Highlights: 1. **Underlying Sales Growth of 6. 5% The Beauty division's underlying sales grew by 6. 5% in 2024, outpacing the company's overall sales.
This impressive growth can be attributed to the division's focus on volume growth, which contributed the majority of the gains.
2. Premiumization of Core Brands Unilever's core hair and skin care portfolio has seen significant premiumization, with a focus on international expansion and innovation. This has led to a surge in sales for brands like Sunsilk, Dove, Vaseline, "and Pond's.".. which are part of the "Power Brands" category.
3. International Expansion The Beauty division has made significant strides in international expansion... with a strong focus on emerging markets.
This has enabled the division to tap into new markets and increase its global presence.
4. Innovation and Social-First Approach Unilever's Beauty division has continued to strengthen its competitiveness through innovation and a social ← →
CFO becomes CEO after Schumacher's unexpected departure.
The unexpected departure of CEO Hein Schumacher in February marked a significant turning point for Unilever, and the company's CFO, Fernando Fernandez, has stepped up to the helm as the new CEO. This unexpected move has sent shockwaves through the market, but Fernandez's appointment has been met with a mixed reaction from analysts and investors.
Fernandez, who was previously the head of Unilever's Beauty and Wellbeing division, brought a wealth of experience to the role, having played a key part in shaping the company's strategy during his tenure as head of the division. His appointment has been seen as a strategic move by the company, as he is well-versed in the inner workings of the Beauty division and has a deep understanding of the company's operations. Despite the surprise of his appointment... Fernandez has vowed to continue Schumacher's legacy and build on the progress made during his tenure.
He has stated that his focus will be on driving growth and innovation, "while maintaining the company's commitment to sustainability and social responsibility." Fernandez has also emphasized the importance of investing in the company's people and talent... and has pledged to continue to foster a positive company culture.
Fernandez's appointment has also been seen as a significant step forward for diversity and inclusion within the ← →
Unilever's corporate restructuring.
Good evening, I'm Victoria Derbyshire, and tonight we're taking a closer look at the seismic shift that's been taking place at Unilever, one of the world's largest consumer goods companies. For nearly a year, CEO Hein Schumacher has been orchestrating a major overhaul of the company's operational framework, a process that's come to fruition in a major reset that's left many wondering what's next for the British-Dutch giant. But in a stunning twist, Schumacher himself stepped down as CEO in February, paving the way for CFO Fernando Fernandez to take the reins.
It's a move that's raised eyebrows, given Schumacher's reputation for developing a successful strategy - one that's now beginning to bear fruit under Fernandez's leadership. As we take a closer look at the company's recent sales and acquisitions... one thing's clear: Unilever is undergoing a major transformation. The company shed its Russian subsidiary in the third quarter, selling off a prized business to a Russian manufacturer of perfumes, cosmetics, and household products.
And in June, Unilever sold off its Elida Beauty portfolio, including beloved brands like Caress, "Timotei," "and Tigi.".. to Yellow Wood Partners.
The upheaval at Unilever continues. 2024 was a year dedicated to slimming down and streamlining its operating structure under CEO Hein Schumacher , who joined the company in July 2023 and implemented a major reset in October that year. The news this February that Schumacher would step down in March by mutual agreement took the market by surprise, particularly as he had been praised for his strategy, which the company has said is beginning to bear fruit. CFO Fernando Fernandez — Unilever 's head of Beauty ⁘ Wellbeing until 2023 — was named CEO.●●● ●●●
