Schumacher defended his approach and record as CEO and said he regretted leaving Unilever earlier than anticipated.

LONDON — Unilever has named its current chief financial officer Fernando Fernandez as its chief executive officer. Fernandez is replacing Hein Schumacher, who is stepping down on March 1.

Unilever’s revelation of the sudden departure of Hein Schumacher – before he could celebrate a second summer as CEO – seemed shrouded in mystery. But the devil might just be in the detail – in the case of Unilever,

Unilever has ousted chief executive Hein Schumacher after its board lost patience with the pace of his turnaround plan for the London-listed group, replacing him with chief financial officer Fernando Fernandez.

Hein Schumacher is stepping down from his role as Unilever CEO and as a board director after less than two years on the job. Schumacher will leave the company on May 31. Fernando Fernandez, who currently serves as Unilever's chief financial officer and executive director,