FMCG major Hindustan Unilever has announced the appointment of Srinivas Phatak as its Chief Financial Officer and Executive Director, Finance and IT.
He has succeeded PB Balaji who resigned from the company in August to join Tata Motors as group CFO. Balaji (46), who was also the Executive Director (Finance and IT), was associated with HUL for the last 24 years and has worked in various positions.
Srinivas Phatak, currently Vice President, Finance Services, Unilever, will take over from Balaji as the Executive Director, Finance and IT and CFO for HUL, the company said in a statement.
The appointment will be effective from December 1, 2017.
“He (Phatak) comes with a rich experience across different areas of the finance function both in HUL as well as in Unilever,” CEO and Managing Director, HUL, Sanjiv Mehta said.
He further said Balaji as CFO of the company has contributed immensely to the growth agenda of the company and has led a successful GST transition.
Phatak has worked in various roles in HUL, including Commercial Manager Chiplun Factory, Head of Treasury, followed by leadership roles such as General Manager Finance for Foods and Refreshments and Head of Investor Relations for HUL.