Nelson Peltz Backs Unilever Veteran to Speed Up Revival

After 37 years at Unilever Plc, Fernando Fernandez is finally getting a shot to lead a company that makes home-care goods, food and beauty products used by billions of people across the world every day. And he’s got the endorsement of a key shareholder — activist investor Nelson Peltz.

Fernandez, currently chief financial officer, is set to replace Hein Schumacher as chief executive officer next month, in a surprise move by the maker of Dove Soap and Ben & Jerry’s ice cream. It comes at a crucial time for the company as it tries to restore sales and profit growth, with Peltz’s Trian Fund Management LP nudging it to move faster.