Mumbai/IBNS: Reliance Industries Limited (RIL) has appointed Srikanth Venkatachari as the new Chief Financial Officer, the company said in a press release on Friday.

"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," the release stated.

The conglomerate’s current chief financial officer, Alok Agarwal, has been given a fresh role.

According to the statement, Agarwal will now be the 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," said the release.

Agarwal is an esteemed finance professional. He was appointed as the Chief Financial Officer of the Company in 2005.