Veteran finance leader Srinivas Phatak takes over as CFO of global FMCG giant Unilever
Consumer goods major Unilever has announced the appointment of India-born Srinivas Phatak as its Chief Financial Officer (CFO), effective immediately. The move comes just over six months after Phatak was named Acting CFO. At 53, he succeeds Fernando Fernandez, who transitioned from CFO to CEO earlier this year. With this appointment, Phatak joins the ranks of Indian-origin executives leading finance functions at global giants like Apple and Tesla, reported timesofindia.indiatimes.com.
The appointment comes as Unilever undergoes a major leadership reshuffle amid intensifying competition from emerging consumer brands. The London-headquartered firm, valued at $152.4 billion, has seen its market capitalization dip by more than 6% over the past year. Earlier this year, Priya Nair was named the first woman CEO of Hindustan Unilever Limited (HUL), while Niranjan Gupta was appointed as HUL’s new CFO. Unilever has also reiterated its plans to “invest disproportionately” in India, targeting “above group average volume growth.”
Who is Srinivas Phatak?
Phatak began his career at Hindustan Unilever in 1999 as a finance manager and has since held a wide range of senior roles. Key milestones include:
- 2025: Appointed CFO of Unilever after serving as Acting CFO (March–September)
- 2022: Deputy CFO and Controller, overseeing performance and stewardship
- 2021: EVP, Risk Management and Controls
- 2017–2021: CFO of HUL and VP Finance, South Asia, during which HUL doubled market cap and expanded margins by 300 bps
- 2014–2017: VP Finance, Supply Chain Americas; Head of Financial Shared Services
- 1999–2012: Various finance and commercial roles in Unilever India
- 1996: Career began at ITC Limited
Phatak, a seasoned Unilever leader, has risen through the ranks over 25 years, shaping transformation projects across India and global markets.
A Chartered Accountant and Cost Accountant, Phatak was born in Hyderabad to parents employed with Syndicate Bank (now Canara Bank). He lives in London with his wife, an eye surgeon at Moorfields Eye Hospital, and also serves as a Non-Executive Director on the Board of Coats Plc.
On LinkedIn, Phatak described his journey as “coming full circle,” reflecting on how he joined HUL’s Mumbai office on September 15, 1999, and exactly 26 years later, on September 15, assumed the role of CFO at Unilever’s London headquarters.