Mukesh Ambani-led Reliance Industries Ltd (RIL) on Friday named Venkatachari Srikanth as its new chief financial officer (CFO), succeeding Alok Agarwal, who turned 65 and had served the business for 30 years, according to a stock exchange notification by RIL.
Agarwal, who joined Reliance in 1993 and was named CFO in 2005, would transition into the position of senior advisor to the chairman and managing director of the firm, supporting him on a variety of strategic issues.
Both the new roles will come into effect from June 1, 2023, the company said in the notification.
V Srikanth ( joint CFO since 2011) has been sharing a part of the responsibilities of the CFO position with Alok Agarwal for the last few years. Srikanth has been with RIL
for the last 14 years. Previously, he worked with the Citi Group for two decades in forex trading and derivatives, later becoming the Head of Markets.
Alok Agarwal is an alumnus of IIT Kanpur and IIM Ahmedabad. He joined Reliance Industries
in 1993 and became the CFO in 2005. Prior to RIL, he had worked with Bank of America for 12 years.
“The Board appreciated Shri Alok Agarwal for his contribution in the transformative journey of the Company,” the RIL
exchange announcement added.