Unilever has appointed Srinivas Phatak as its new chief financial officer (CFO), following a six-month stint in the role on an acting basis. His appointment, which takes immediate effect, also sees him join the Unilever board and leadership executive.
Phatak, previously deputy CFO and group controller, was asked to step up as acting CFO in February 2025 after the consumer goods giant replaced its then chief executive Hein Schumacher with finance chief Fernando Fernandez, and began a global search for a permanent successor.
The Unilever board said it is in “unanimous agreement” that Phatak is the right candidate to take the role full-time.
“Srinivas has been a great partner over the last six months as acting CFO and over many years as part of the Unilever leadership team,” Fernandez said.
“He brings financial rigour, strategic clarity, and a sharp eye for value creation. His leadership and constructive challenge will be very valuable in driving consistent volume growth, margin expansion, and advancing our growth story.”
Alongside his Unilever responsibilities, Phatak is also an independent non-executive director at Coats Group plc.
Phatak has nearly three decades of years of experience in the consumer products industry, working in the US, Europe, Latin America and India. During 2017 and 2021, he was the CFO and executive director of Hindustan Unilever Limited, a Unilever subsidiary listed in India with a market capitalisation of over €60 billion (£52bn).
His other Unilever experiences include heading financial shared services, leading finance for supply chain in the Americas, large-scale M&A (including integration) and heading global treasury operations for Asia.
Under his new terms, Phatak will receive annual fixed pay of €1.175 million, alongside eligibility for annual bonus and Performance Share Plan awards, in line with Unilever’s existing remuneration policy.
Phatak is a qualified chartered accountant and cost accountant from India. He is married and currently lives in London.