Reliance Industries Limited, owned by Mukesh Ambani, has named Venkatachari Srikanth as its new Chief Financial Officer (CFO) effective June 1, 2023.
Reliance Industries announced in a regulatory filing on Friday that Alok Agarwal, the current CFO, will take on the new position of Senior Adviser to the Chairman and Managing Director of the Company, where he will support Ambani on a variety of strategic issues.
According to a company notification, "Shri Srikanth Venkatachari (Joint Chief Financial Officer of the Company since 2011) has been designated as the Chief Financial Officer of the Company with effect from June 1, 2023," based on the recommendation of the Human Resources, Nomination and Remuneration Committee at its meeting held on March 24, 2023.
Alok Agarwal, the current CFO, has been with the company for 30 years. He was appointed to the position in 2005. "Shri Alok Agarwal, the Company's Chief Financial Officer, will take on a new role as Senior Adviser to the Chairman and Managing Director of the Company with effect from June 1, 2023, advising him on a variety of strategic matters, "RIL stated in the filing.
"Shri Alok Agarwal is a skilled financial expert. In 2005, the company named him as its chief financial officer. The Board thanked Shri Alok Agarwal for his commitment to the Company's transformational journey, "the alert was added.
Mukesh Ambani, 65, beat out Gautam Adani, 61, to be ranked ninth on the 2023 M3M Hurun World Rich List, despite the fact that shares of his company's flagship Reliance Industries have fallen precipitously over the past year.
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