Unilever finance chief set to step down amid boardroom shake-up

Unilever’s finance boss is leaving next year amid a shake-up ahead of the arrival of Hein Schumacher as chief executive.

Graeme Pitkethly, who has served as chief financial officer of the consumer goods giant since 2015, will retire by the end of May next year.

The 56-year-old has been with Unilever since 2002 and previously headed up the firm’s UK and Ireland business. 

The company did not explain the reason behind the finance chief’s retirement but added that a search for a replacement was under way.

Unilever boss Alan Jope thanked Pitkethly ‘for his tremendous contribution to Unilever over the last 21 years’.

Jope added: ‘As CFO, he has brought great leadership to our company and been instrumental in sharpening our strategy and driving a step-up in our operational performance.’ 

News of Pitkethly’s departure comes ahead of the arrival of Schumacher, who will replace Jope from July. 

Unilever is grappling with soaring inflation that has pushed up production costs while hitting demand from shoppers.

The company is also hoping to appease activist investor Nelson Peltz who nabbed himself a seat on the board last year.

There were also executive changes at Swiss food firm Nestle, which named Anna Manz, the former chief financial officer of the London Stock Exchange Group, as replacement for departing finance chief Francois-Xavier Roger.