Unilever Appoints Srinivas Phatak as New CFO and Board Member

Unilever, the global consumer goods giant, has officially appointed Srinivas Phatak as its new Chief Financial Officer, with the appointment taking effect immediately. This significant promotion also sees Phatak joining the company's prestigious board as a member and becoming a key part of the Unilever Leadership Executive, underscoring his elevated influence within the organization. His ascent to this critical role highlights a strategic move for the multinational conglomerate as it continues to navigate a dynamic global market.

Phatak's journey to the top financial post has been a testament to his extensive career progression within Unilever’s finance department. The company first announced in February that he would step into the role of acting CFO, moving up from his previous positions as deputy chief financial officer and group controller. This interim period allowed for a seamless transition and demonstrated his capability to manage the extensive financial responsibilities of one of the world's largest consumer goods companies.

The decision to formalize his appointment followed a rigorous and comprehensive internal and external search process. The Unilever Board ultimately reached a unanimous agreement, concluding that Srinivas Phatak was the optimal candidate for the role. This consensus was based on the substantial strength of his industry and functional experience, combined with his outstanding performance during his tenure as acting CFO, which solidified confidence in his leadership and expertise.

Fernando Fernandez, Unilever's chief executive, expressed strong endorsement for Phatak’s capabilities. "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 stated. He further emphasized Phatak’s invaluable attributes, noting that he "brings financial rigour, strategic clarity, and a sharp eye for value creation," qualities deemed essential for the company's future trajectory.

The CEO also articulated the significant impact Phatak is expected to have on the company's strategic objectives. Fernandez highlighted that Phatak's "leadership and constructive challenge will be very valuable in driving consistent volume growth, margin expansion, and advancing our growth story." He expressed confidence that, together with the wider team, they can construct a scalable marketing and sales engine capable of delivering executional excellence across all channels. Beyond his responsibilities at Unilever, Phatak also serves as an independent non-executive director on the board of Coats Group, further demonstrating his broad industry influence.