Unilever appoints new CFO

Who is Unilever’s new CFO? Key facts and summary

• Srinivas Phatak appointed Unilever CFO after global internal and external search
• He had served as acting CFO since February, following CEO transition
• Board cited his strong financial leadership and industry experience
• Phatak will earn €1.175 million annually plus performance-based incentives
• Appointment signals focus on value creation and consistent volume growth

Unilever PLC, has announced Srinivas Phatak as its new chief financial officer (CFO), effective immediately.

The appointment is said to have taken place after a “thorough internal and external search process”.

Phatak took on the role of acting CFO back in February, following Fernando Fernandez’s rise to chief executive officer (CEO).

Phatak was previously deputy chief financial officer and group controller.

Following that process, the Unilever Board is said to be in “unanimous agreement” that Phatak is the best candidate for the role, due to the strength of his industry and functional experience, and having performed strongly as acting CFO.

“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,” says Fernando Fernandez, CEO of Unilever. “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. I’m confident that, together with the team, we can build a scalable marketing and sales engine that delivers executional excellence across all channels.”

Phatak is currently independent non-executive director on the board of Coats Group plc.

He will receive annual fixed pay of €1.175m, will be eligible to receive annual bonus and performance share plan awards, and localisation support, in line with Unilever’s existing remuneration policy.