Reliance Industries, owned by billionaire Mukesh Ambani, has announced the appointment of Srikanth Venkatachari as chief financial officer, beginning June 1.
He succeeds Alok Agarwal, who has served as CFO since 2005, and will now serve as the company’s chairman and managing director Mukesh Ambani’s senior advisor.
Currently, the company’s joint CFO is Venkatachari, 57. Agarwal, 65, has worked for Reliance for 30 years since joining the business in 1993.
For the past few years, Srikanth and Agarwal have shared some of the duties of the CFO role. Srikanth has worked for Reliance for 14 years.
Prior to this, he spent twenty years trading foreign exchange and derivatives for the Citi Group before rising to the position of head of markets.After 30 years of meritorious service, ‘Agarwal, the Company’s Chief Financial Officer, 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,’ according to the filing.
In 2005, Agarwal was chosen to serve as the company’s CFO. The board also expressed appreciation for Alok Agarwal’s role in the company’s transformation.