More CEOs Are Getting Fired. Blame FOMO Boards: Beth Kowitt

When Unilever Plc made its surprise announcement last week that it would replace CEO Hein Schumacher, the board was about as blunt as boards tend to get in a corporate press release.

“While the Board is pleased with Unilever’s performance in 2024, there is much further to go to deliver best-in-class results,” said Unilever Chairman Ian Meakin in the announcement. Schumacher would be replaced by current Unilever CFO Fernando Fernandez, who has the ability “to drive change at speed” and capitalize on the company’s growth plan “with urgency.”

It all came down to that one word, much beloved by ...