The CEO of Unilever won't get a pay increase for 2 years after a backlash from shareholders

• Unilever CEO Hein Schumacher will have his pay frozen until 2026.
• Shareholders voted against his base salary of $1.96 million at the AGM in May.
• Schumacher has said he will change tact from his predecessor's emphasis on brands with a social purpose.

The CEO of Unilever won't be able to get a pay rise until 2026 amid shareholder frustration, Bloomberg reported.

The board's proposed pay package was rejected by shareholders at Unilever's annual general meeting in May, per Bloomberg.