Unilever appoints Srinivas Phatak as permanent CFO

Unilever has appointed Srinivas Phatak as its ‘new’ chief financial officer. Phatak had already been appointed as acting CFO in February, when his predecessor Fernando Fernandez was promoted to CEO.

Musical chairs

When Unilever fired its CEO Hein Schumacher in February, a game of musical chairs began at the top. Fernandez was promoted from CFO to CEO and Phatak was appointed Acting CFO until a permanent CFO was found. After seven months, the board unanimously concluded that Phatak was the best candidate to take over permanently.

In a press release, Fernandez praised Phatak’s “financial rigour, strategic clarity, and a sharp eye for value creation.” Phatak started at Unilever in 1999 and rose through various ‘VP Finance’ roles to become CFO of Unilever in India. He became Deputy CFO in 2022, and so this year he climbs another step up the hierarchical ladder.