Unilever PLC appointed Srinivas Phatak as its chief financial officer, replacing Fernando Fernandez who was promoted to chief executive officer following a board reshuffle.
Phatak had been serving as acting CFO at the Anglo-Dutch consumer goods company since March. An internal hire, he will join the board effective immediately, Unilever said Tuesday.
Phatak will receive an annual fixed pay of €1.2 million ($1.4 million) and he will be eligible to receive an annual bonus and performance share plan awards, the company said.
(This is a developing story. Check back for updates)
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