Unilever appoints Srinivas Phatak as new Chief Financial Officer

UK – Unilever PLC has appointed Srinivas Phatak as its new Chief Financial Officer (CFO), marking a key leadership move as the consumer goods giant continues to navigate a transformative period. 

Phatak, 53, succeeds Fernando Fernandez, who stepped into the role of CEO earlier this year following the abrupt departure of Hein Schumacher.

The maker of household brands such as Dove soaps and Hellmann’s mayonnaise said the board’s decision followed an extensive internal and external search process. 

Phatak had been serving as interim CFO since February 2025 and was credited with strong performance in the role, helping to steady the company during a time of leadership transition.

Phatak is no stranger to Unilever, having spent over 25 years with the company in various corporate finance and operational leadership roles. 

He most recently held the position of Deputy CFO and Controller before being asked to step up as acting CFO. 

Between 2017 and 2021, he also served as CFO of Hindustan Unilever Limited, overseeing finance across South Asia, a period that saw sustained market share gains and margin growth in one of the company’s most important emerging markets.

“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,” said CEO Fernando Fernandez in a statement. “His leadership and constructive challenge will be very valuable in driving consistent volume growth, margin expansion, and advancing our growth story.”

The appointment comes at a critical juncture for Unilever, which is preparing to spin off its ice cream division later this year. 

The move is expected to sharpen focus on its core personal care, beauty, and nutrition categories while simplifying the overall business structure. 

Fernandez has also pledged to streamline management layers and improve profitability across regions.

As part of his new role, Phatak will receive an annual fixed salary of €1.2 million (approximately US$1.42 million), with eligibility for an annual bonus and long-term performance share plan awards.

Unilever’s shares have risen less than 1% so far in 2025, reflecting investor caution as the company undergoes restructuring. 

Analysts suggest Phatak’s deep institutional knowledge and proven track record in high-growth markets could provide the financial discipline and continuity needed to reassure shareholders during this period of change.

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