Srikanth Venkatachari named Reliance Industries' new chief financial officer

Venkatachari is currently the joint CFO for the company

Billionaire Mukesh Ambani's Reliance Industries has appointed Srikanth Venkatachari as Chief Financial Officer effective June 1, according to a stock exchange filing.

He takes over from Alok Agarwal, who has been CFO since 2005, and will now assume the role of senior advisor to Reliance Chairman Mukesh Ambani.

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Venkatachari, 57, currently is the joint CFO for the company. Agarwal, 65, who joined Reliance in 1993, completed 30 years with the company.

Srikanth, who has been sharing a part of the responsibilities of the CFO position with Agarwal for the last few years, has been with Reliance for the last 14 years.

He previously worked with the Citi Group for two decades in forex trading and derivatives and eventually became the head of markets.

"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," the filing said.

Agarwal was appointed as the CFO of the company in 2005. "The Board appreciated Alok Agarwal for his contribution in the transformative journey of the company," it added.