Unilever has appointed Srinivas Phatak as its new Group CFO and board member, following a seven-month internal and external search. Phatak, who has served as acting CFO since February, steps into the permanent role immediately.
Unilever has confirmed the appointment of Srinivas Phatak as its new Chief Financial Officer, following a comprehensive internal and external search process. The decision, effective immediately, also sees Phatak join the company’s Board and Unilever Leadership Executive.
Phatak, who has been with Unilever for 26 years, has served as acting CFO since February 2025. His elevation to the permanent role follows the transition of former CFO Fernando Fernandez to Chief Executive Officer in March.
In a statement, Fernandez said:
“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 began his career at Unilever in 1999 as a Finance Manager and has since held a range of senior finance roles across geographies and business units. Prior to becoming acting CFO, he served as Deputy CFO and Group Controller.
In addition to his responsibilities at Unilever, Phatak currently holds a position as Independent Non-Executive Director on the board of Coats Group plc.
Unilever confirmed that Phatak will receive a fixed annual salary of €1.175 million. He will also be eligible for annual bonus opportunities, participation in the Performance Share Plan, and localisation support—aligned with Unilever’s existing remuneration policy. Additional information will be disclosed in the company’s 2025 Directors’ Remuneration Report.
According to Unilever, the Board’s unanimous endorsement of Phatak’s appointment reflects confidence in his leadership capabilities and depth of experience within the company.
The appointment comes during a critical period for the FMCG group, as it focuses on executing a new growth strategy under Fernandez’s leadership. Key financial priorities include scaling Unilever’s marketing and sales operations, delivering consistent volume-led growth, and expanding margins in a competitive global market.
The company reiterated that the appointment was made in accordance with UK Listing Rule 6.4.6R, and no further disclosures are required under Rule 6.4.8R.