NEW DELHI: Fabrics and garment major Raymond on Friday mentioned it has appointed Amit Agarwal as Chief Money Officer (CFO), replacing Sanjay Bahl who has relinquished his placement. Agarwal, who was the CEO of Jindal Coated Steel Merchandise Ltd prior to signing up for Raymond, assumed the new role with impact from July two, the firm mentioned in a regulatory filing.

He is a veteran CFO having worked with massive businesses like Arcelor Mittal, Essar Steel, Suzlon and Jet Airways the place he was the CFO and Performing CEO, it included.

Agarwal joins Raymond at a very important juncture when the business is witnessing challenging current market ailments owing to COVID-19 impact and the team is also in the process of de-merger that would direct to two individual mentioned entities, the filing included.

On the other hand, Bahl, who was the Raymond CFO for about five a long time will continue on to be affiliated with the firm as an advisor for six months to help the leadership workforce by means of the changeover period, the firm mentioned.

Throughout his tenure Bahl was instrumental in steering the team by means of GST implementation, demonetisation and now COVID-19, it included.

He also had significant contributions in facilitating the sale of a element of the company’s Thane land and also strategising the demerger of the group’s life-style business into a individual legal entity, the firm mentioned.