Hindustan Unilever Appoints Srinivas Phatak as Permanent CFO

Unilever, the British multinational consumer goods company, has confirmed the appointment of Srinivas Phatak as its permanent Chief Financial Officer (CFO). Earlier this year, in February, Phatak was named acting CFO. After a thorough search, the company decided he was the best fit for the role. 

The Unilever Board expressed full confidence in Phatak due to his strong industry experience and excellent performance as acting CFO.

Who is Mr. Srinivas Phatak?

Phatak, aged 53, has been with Unilever for over 25 years, joining the company in 1999. He has held various roles in business and corporate finance. Before becoming acting CFO, he was the deputy CFO and Controller. His appointment as permanent CFO comes as Unilever plans to spin off its ice cream business later this year.

Before his current role, Phatak was CFO of Hindustan Unilever Limited and also served as vice president of finance for South Asia between 2017 and mid-2021. His long experience within the company and across different regions makes him a strong asset for Unilever.

Salary and Benefits

Phatak’s annual fixed salary will be 1.75 million euros. Besides this, he will be eligible for an annual bonus, Performance Share Plan awards, and localisation support, which helps him manage living expenses depending on where he works.

Hindustan Unilever Limited (HUL) Share Price Performance

HUL share price has shown mixed performance over the past month. The highest price recorded was ₹2,750.00, but recent days have seen some slight declines, with the latest price at ₹2,578.30. The stock experienced both gains and losses, with notable fluctuations such as a 3.53% rise on August 18 and a 1.58% drop on September 12.

Overall, the share price has shown moderate volatility, reflecting market responses to company developments and broader economic factors.

Read more: ₹10,000 SIP in Canara Robeco Flexi Cap Fund Grows to ₹1.79 Crore in 22 Years.

Conclusion

Srinivas Phatak’s permanent appointment as CFO brings stability and confidence to Unilever’s finance leadership. With his deep knowledge of the company and strong financial skills, he is expected to lead Unilever through upcoming changes and growth opportunities. This decision reflects Unilever’s commitment to maintaining strong leadership during a critical period in its business.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.