Schumacher defended his approach and record as CEO and said he regretted leaving Unilever earlier than anticipated.

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

KEY TAKEAWAYS Unilever said Tuesday that Hein Schumacher is stepping down after less than two years as chief executive of the consumer goods giant.Schumacher will be replaced by CFO Fernando Fernandez,