Unilever, the global consumer goods giant known for brands like Dove, Knorr, and Lifebuoy, has officially appointed India-born Srinivas Phatak as its new Chief Financial Officer (CFO). A seasoned finance leader and company veteran, Phatak takes over the role after serving as acting CFO since February 2025. His elevation to the board and the Unilever Leadership Executive (ULE) marks a significant milestone, making him the second Indian on the company’s top leadership team.
On Tuesday, Unilever announced that Srinivas Phatak will assume the position of CFO with immediate effect. Having successfully managed the responsibilities in an interim capacity, Phatak’s promotion reflects the company’s confidence in his leadership and financial expertise. He will also be part of the Unilever Leadership Executive, which drives global strategy across markets.
Phatak, aged 53, stepped in as interim CFO earlier this year following a reshuffle that saw former CFO Fernando Fernandez promoted to Chief Executive Officer. The leadership changes came after the unexpected resignation of ex-CEO Hein Schumacher.
Unilever emphasized that a thorough internal and external search process was conducted before finalizing Phatak as CFO. The board unanimously agreed that his performance as acting CFO demonstrated his capability to lead the company’s financial strategy.
In its official statement, the company highlighted Phatak’s strong track record of delivering results. Fernandez, now CEO of Unilever, praised Phatak’s contribution:
“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. His leadership and constructive challenge will be very valuable in driving consistent volume growth, margin expansion, and advancing our growth story.”
This endorsement underlines the trust and respect Phatak has earned from senior leadership during his tenure.
Phatak has been with Unilever for more than 25 years, covering a wide spectrum of business and corporate finance functions. He has played a pivotal role in several enterprise-wide initiatives such as:
Productivity and efficiency programs
Integrated operations management
Technology transformation projects
His career reflects a blend of strategic vision and operational excellence, aligning finance with growth and innovation.
From 2017 to mid-2021, Phatak served as CFO of Hindustan Unilever (HUL) and Vice-President of Finance for South Asia. Under his leadership:
HUL witnessed strong growth acceleration and market share gains.
The company achieved over 300 basis points margin expansion.
HUL’s market capitalization doubled, reflecting investor confidence and solid financial management.
This experience positioned Phatak as one of the most influential finance leaders in the Indian corporate ecosystem.
Phatak’s appointment comes at a crucial time for Unilever. The company is preparing to spin off its ice cream division later this year while focusing on growth in its top two markets – the United States and India.
The leadership team, under Fernandez, is also doubling down on power brands and premium categories to enhance profitability and expand market presence. Phatak’s proven track record in driving efficiency and financial discipline is expected to be central to these strategic shifts.
Based in London, Phatak will receive a fixed annual salary of €1.2 million ($1.42 million). Alongside his base pay, he will be eligible for:
Annual performance bonuses
Share-based incentive awards under Unilever’s performance share plan
This package reflects the scale of responsibility and global scope of his new role.
Conclusion
The appointment of Srinivas Phatak as CFO signals continuity and confidence in Unilever’s leadership pipeline. With his vast experience in finance, proven success at HUL, and a strong record in corporate transformation, Phatak is well-positioned to support Unilever’s growth ambitions and navigate the challenges of the global consumer goods industry.