Coats Group PLC (COA)

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Unilever names Srinivas Phatak as new chief financial officer

(Alliance News) - Unilever PLC on Tuesday said it has appointed Srinivas Phatak as its new chief financial officer, effective immediately.

Phatak had been serving as acting CFO since February, following Fernando Fernandez's promotion to chief executive officer. He was previously deputy CFO and group controller at the London-based consumer goods firm, owner of brands such as Marmite, Dove and Ben & Jerry's.

The leadership changes have come after former CEO Hein Schumacher stepped down in February, following just 18 months in the role.

At the time, Unilever said a full search would be launched to appoint a permanent CFO. Following that process, the board said it was in unanimous agreement that Phatak was the best candidate, citing his industry expertise, functional experience, and strong performance as acting CFO.

Chief Executive Fernando Fernandez 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 rigour, strategic clarity, and a sharp eye for value creation."

Phatak also serves as an independent non-executive director at Coats Group PLC.

Unilever shares were 0.9% lower at 4,546.00 pence in London on Tuesday.

By Eva Castanedo, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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