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Unilever has announced the appointment of Srinivas Phatak as its new chief financial officer, following a comprehensive search process that considered both internal and external candidates.

Phatak, who has been serving as the acting CFO since February 2025, officially steps into the role effective immediately and will also join the Unilever leadership executive.

Phatak’s promotion comes as no surprise to industry insiders, given his extensive background with the company, where he has held key financial roles, including deputy CFO and group controller.

The Unilever board unanimously endorsed his appointment, citing his strong industry expertise and effective performance during his tenure as acting CFO.

Fernando Fernandez, Unilever’s CEO 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 rigor, strategic clarity, and a sharp eye for value creation.”

Fernandez also highlighted that Phatak’s leadership will be crucial in driving the company’s goals of consistent volume growth and margin expansion.

In addition to his role at Unilever, Phatak is currently an independent non-executive director on the board of Coats Group, further enhancing his credentials as a seasoned financial leader.

Phatak’s appointment comes at a pivotal time for Unilever, as the company seeks to strengthen its market position amid evolving consumer preferences and competitive pressures in the fast-moving consumer goods sector.

His financial acumen is expected to play a critical role in advancing Unilever’s growth story, particularly as the company aims to enhance its marketing and sales strategies across diverse channels.

As part of his new role, Phatak will receive an annual fixed salary of €1.175 million, along with eligibility for annual bonuses and performance share plan awards, in accordance with Unilever's existing remuneration policy.

Details regarding his compensation will be included in the upcoming Unilever Directors' Remuneration Report for 2025.