LONDON — Unilever PLC has named Srinivas Phatak as its new Chief Financial Officer (CFO), effective immediately, following a comprehensive internal and external search process. He also joins the company’s Board and Unilever Leadership Executive.
Phatak, 53, had been serving as acting CFO since February, when former finance chief Fernando Fernandez was elevated to CEO after the abrupt departure of Hein Schumacher. A 25-year veteran of the company, Phatak has held senior roles across markets and corporate finance, including as CFO of Hindustan Unilever Limited and vice president of finance for South Asia from 2017 to 2021.
CEO Fernando Fernandez said the appointment brings stability at a critical 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. 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.”
Phatak steps into the permanent role as Unilever navigates significant organizational change, including the planned spinoff of its ice cream business later this year and efforts to streamline management and bolster margins.
Under the terms of his appointment, Phatak will receive annual fixed pay of €1.2 million ($1.4 million) along with eligibility for an annual bonus, Performance Share Plan awards, and localization support in line with Unilever’s remuneration policy.
In addition to his Unilever duties, Phatak serves as an Independent Non-Executive Director on the board of Coats Group plc.
