New Unilever boss hopes to win over investors with financial update

The new boss of Unilever hopes to win over investors this week by laying out a closely watched financial update.

The consumer giant – whose brands include Magnum, Ben & Jerry's and Hellmann's – hired ex-finance chief Fernando Fernandez in place of outgoing Hein Schumacher in March.

The 58-year-old will present his first set of quarterly numbers on Thursday and will have to address the threat posed by US President Donald Trump's tariffs on imports into the US.

Matt Britzman, analyst at Hargreaves Lansdown, said: 'Unilever's approach to addressing tariff risks and their impact on the supply chain will be closely watched.'

There are hopes that Fernandez can turn the firm around more quickly than his predecessor – Schumacher left the role after less than two years at the helm.

The group is also in the process of spinning off its ice-cream business and snubbed London for an Amsterdam listing earlier this year.

It is looking to save £700m by cutting 7,500 jobs as well as focusing on a select few 'power brands', too.

Unilever has been under pressure from investors – including US activist Nelson Peltz, who sits on the board and is one of its largest shareholders through his firm Trian Partners.

Analysts are expecting sales of £13billion, just 0.8 per cent higher than the first quarter of 2024.