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Unilever CEO Hein Schumacher is stepping away from the top job later this week in a surprise exit from the consumer goods giant.
He will be replaced by Fernando Fernandez, Unilever’s current chief financial officer.
James Edwardes Jones, an analyst at RBC Capital Markets, said he was “gobsmacked”.
“We met with Hein just over a week ago, and he seemed to us to be very much his normal ebullient self. We certainly didn’t see this coming.”
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Morning update
McBride has confirmed a strong first half of the year with group revenue up 2.9% and volumes up 5.9%.
The manufacturer of own-label cleaning products said private-label volumes grew 2.4% in the six months to 31 December.
Contract manufacturing volumes were up 69%, driven mostly by the successful launch of two new multiyear contracts with large fmcg clients over the past six months.
McBride now intends to reinstate annual dividends for the current financial year off the back of the improvement in the group’s financial position.
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