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In a major management reshuffle within the Aditya Birla Group companies, Sushil Agarwal, Chief Financial Officer, Aditya Birla Nuvo, has been elevated to assume a bigger role as CFO and whole-time Director in its flagship company Grasim Industries.
The incumbent CFO and whole-time Director of Grasim, Adesh Gupta, has put in his papers after a long stint across the Aditya Birla Group companies.
Pinky Mehta, Head of Corporate Management Services Division (CMSD) of the Group, will take over as CFO of Aditya Birla Nuvo.
The CMSD works as an internal consultant and catalyst to achieve commercial excellence across the Aditya Birla Group of companies. Agarwal told BusinessLine that both the boards of Aditya Birla Nuvo and Grasim have approved his appointment and will come into effect from July 1.
The reshuffling comes at a time when AB Nuvo itself is consolidating its fashion retail business by merging Madura Garments with the listed entity Pantaloons Fashion and Retail and renaming it as Aditya Birla Fashion and Retail.
A trusted man of Kumar Mangalam Birla, Group Chairman, Agarwal has played a pivotal role in strategising business decisions in AB Nuvo, which has grown largely through acquisitions. From a humble beginning with the acquisition of Indian Rayon Corporation in 1963, AB Nuvo has emerged as a conglomerate with annual turnover of $4.5 billion. Agarwal, with 19 years of experience, has honed his skills handling the varied business interest of AB Nuvo including financial services, manufacturing and fertiliser.
Heading the Corporate Management Services Division, Mehta oversaw commercial interests, including procurement, logistics and supply chain, finance and accounts, marketing, direct and indirect taxation and international trade across the Group.
As a solution provider, she focuses on creating value by realising synergy within group companies, introducing best practices and institutionalising systems.
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