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Srinivas Phatak appointed as Unilever's new Chief Financial Officer
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Phatak was acting CFO since February following CEO Hein Schumacher's exit
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Unilever's board now includes two Indians, including HUL CEO Priya Nair
British FMCG giant Unilever Plc.'s board on Tuesday appointed India-born Srinivas Phatak as its new Chief Financial Officer. Pathak was made acting CFO in February of the $152 billion conglomerate after the unexpected ouster of CEO Hein Schumacher and promotion of then-finance chief Fernando Fernandez as the top boss.
"... the Unilever Board is in unanimous agreement that Srinivas is the best candidate for the role, due to the strength of his industry and functional experience and having performed strongly as acting CFO," the company said in a statement.
"His leadership and constructive challenge will be very valuable in driving consistent volume growth, margin expansion, and advancing our growth story," CEO Fernando Fernandez said.
He will receive an annual fixed pay of 1.175 million euro and is eligible to receive annual bonus and performance share plan awards.
The board of London-listed Unilever will now have two Indians, the other being Hindustan Unilever Ltd. CEO and Managing Director Priya Nair.
Who Is Srinivas Pathak
Srinivas Pathak has been associated with Unilever for 26 years. During 2017 and 2021, he was CFO and executive director of HUL. His other Unilever experiences include heading financial shared services, leading finance for supply chain in the Americas, large-scale M&A (including integration) and heading global treasury operations for Asia, according to a company profile.
He is currently an independent non-executive director on the board of UK apparel maker Coats Group Plc. In the 1990s, has also worked at ITC Ltd.
Pathak has a postgraduate qualification in finance. He is a qualified accountant with professional degrees from the Institute of Chartered Accountants (ICAI) and the Institute of Cost Accountants (ICMAI).
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