Brands
Unilever’s Schumacher to step down as CEO, Fernandez appointed successor
MUMBAI: Unilever today announced that Hein Schumacher will step down as chief executive officer and board director on 1 March 2025 by mutual agreement, and will leave the company on 31 May 2025.
Fernando Fernandez, currently Unilever chief financial officer and executive director, will be appointed chief executive officer effective from 1 March 2025. Prior to becoming CFO in January 2024, Fernandez had a successful tenure as president of beauty & wellbeing, one of Unilever’s fastest growing businesses.
Unilever chairman Ian Meakins thanked Schumacher for “resetting Unilever’s strategy, for the focus and discipline he has brought to the company and for the solid financial progress delivered during 2024.” He noted that Schumacher introduced and led a significant productivity programme and commenced the ice cream separation, both of which are fully on track.
Speaking of Fernandez’s appointment, Meakins said: “The board has been impressed with Fernando’s decisive and results-oriented approach and his ability to drive change at speed. He has a strong track record of performance and portfolio management, a love of brands and a profound knowledge of Unilever’s operations.”
Schumacher called his time leading Unilever “a privilege” and said he was proud of what they had achieved in a short period of time.
Fernandez commented: “Being appointed as CEO of Unilever is an honour. Our focus will be on building a future-fit portfolio with an attractive growth footprint and delivering unmatched functional and perceivable superiority across our top 30 power brands.”
A thorough internal and external search process is being initiated to appoint a permanent CFO. From 1 March 2025, Srinivas Phatak, currently Unilever’s deputy chief financial officer and group controller, will become acting CFO.
Unilever confirmed there is no change to its 2025 outlook or medium-term guidance.
Brands
Tata Consumer Products faces Rs 98 crore tax demand
Income tax authorities raise significant demand for the 2022-23 financial year
MUMBAI: Tata Consumer Products Limited has received an assessment order from the income tax department involving a substantial financial demand. The order, issued by the assistant commissioner of income tax in Kolkata, was received by the company on 13 March 2026. It follows an audit of the income tax returns filed for the 2022-23 financial year, during which the assessing officer made specific additions and disallowances to the company’s reported income.
The total demand raised by the authorities amounts to Rs 98,03,33,930, a figure that includes both the principal tax amount and accrued interest. This disclosure was made by the company’s company secretary & compliance officer, delnaz dara harda, in a formal filing to the National Stock Exchange and BSE Limited on 14 March 2026. The filing was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In response to the order, Tata Consumer Products has stated that it believes the demand is not maintainable under current law. The management has confirmed that the company is currently in the process of filing an appeal against the assessment. Furthermore, the company clarified that there is no immediate impact on its current financial standing, operations, or other corporate activities resulting from this specific order.
