Venkatachari Srikanth will be appointed the new Chief Financial Officer CFO from 1 June, 2023, according to Mukesh Ambani-controlled Reliance Industries Limited. In a regulatory filing on Friday, Reliance Industry said that the current CFO Alok Agarwal will be assuming the new role of Senior Advisor to the Chairman and Managing Director of the Company, where he will assist Ambani on a wide range of strategic issues.
The Board of Directors of the Company, based on the recommendation of the Human Resources, Nomination and Remuneration Committee on March 24, has named Shrikanth Venkatachari Joint Chief Financial Officer of the Company since 2011 as the Chief Financial Officer of the Company with effect from June 1, 2023, the company notification said.
CFO Alok Agarwal, who has been with the company for 30 years, assumed the role of CFO in 2005.
After 30 years of distinguished service, RIL will take a new role as Senior Advisor to the Chairman and Managing Director of the Company, assisting him with a wide range of strategic issues to be addressed with effect from June 1, 2023, said Shri Alok Agarwal, Chief Financial Officer of the Company.
Shri Alok Agarwal is an accomplished finance professional. He was appointed Chief Financial Officer of the Company in 2005. The notification said that Shri Alok Agarwal was appreciated for his contribution to the transformative journey of the Company.
Mukesh Ambani, 65, was named the ninth richest person in the M 3 M Hurun Global rich list earlier this week, beating Gautam Adani, 61, even though shares of its flagship Reliance Industries fell sharply in the last year.
In 2023, the percentage has risen by 66 per cent. The scrip has fallen in double digits for the one-year period.
Mukesh Ambani completed 20 years at thehelm of Reliance Industries this past year, during which the conglomerate saw a 17 fold jump in revenues and a 20 times increase in profit.