Consumer group Unilever surprised investors on Tuesday by replacing chief executive Hein Schumacher with finance chief Fernando Fernandez, who will take on the tough task of reviving the consumer group's performance.

Unilever surprised investors by appointing Fernando Fernandez as the new CEO, replacing Hein Schumacher. Starting March 1, Fernandez, an experienced leader with a lengthy tenure at the company, will focus on reviving Unilever's performance.

Unilever (LON: ULVR) shocked investors by announcing the sudden departure of CEO Hein Schumacher, less than two years into his tenure. The consumer goods giant has appointed CFO Fernando Fernandez as his successor,