Reliance Industries Limited, which is run by Mukesh Ambani, has named Srikanth Venkatachari as its new chief financial officer (CFO), effective on June 1. Alok Agarwal, the CFO since 2005, will be replaced by Venkatachari. Agarwal has been promoted to senior advisor to Reliance chairman Mukesh Ambani.
“This is to inform that Shri Alok Agarwal, Chief Financial Officer of the Company will assume a new role as Senior Advisor to the Chairman and Managing Director of the Company assisting him on a wide range of strategic issues with effect from June 1, 2023, after 30 years of distinguished service. Shri Alok Agarwal is an accomplished finance professional. He was appointed as the Chief Financial Officer of the Company in 2005.
The Board appreciated Shri Alok Agarwal for his contribution in the transformative journey of the Company. The Board of Directors of the Company, based on the recommendation of the Human Resources, Nomination and Remuneration Committee, at its meeting held on March 24, 2023, has designated Shri Srikanth Venkatachari (Joint Chief Financial Officer of the Company since 2011) as the Chief Financial Officer of the Company with effect from June 1, 2023,” a release by the company stated.