Dive Brief:
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Unilever appointed Fernando Fernandez, who currently leads the company’s beauty and wellbeing business group, to take over as its finance chief, the consumer products giant said Thursday.
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Effective Jan. 1, Fernandez will replace Graeme Pitkethly, who announced his decision to retire earlier this year, according to a press release from London-based Unilever, which produces hundreds of consumer goods, including Ben & Jerry's ice cream and Dove soap.
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The company also announced several other senior leadership changes, including the appointment of Priya Nair, currently chief marketing officer for the beauty and wellbeing unit, to replace Fernandez. Hein Schumacher took over as CEO of the company in July, succeeding Alan Jope, who retired.
Dive Insight:
Fernandez will receive an annual fixed pay of 1.2 million euros and be eligible to receive annual bonus and performance share plan awards, Unilever said.
Prior to running Unilever’s beauty and wellbeing business group, Fernandez was responsible for the company’s Latin America business. Before that, he led its Brazil unit.
“Fernando has had a very impressive track record throughout his Unilever career, in a variety of financial, marketing and general management roles,” Schumacher said in the Thursday press release. “His deep financial and business experience, strategic acumen and leadership qualities will be critical in helping to drive the step-up in Unilever’s performance that we are all determined to deliver.”
Fernandez was selected for the CFO post after a thorough internal and external search process, the release said.
Unilever announced in May that Pitkethly was retiring after 21 years of service at the company. This followed an announcement in January that Schumacher was appointed to take over as CEO of the company, effective July 1.
