JioStar has appointed G R Arun Kumar as its chief monetary officer (CFO). Kumar earlier led Welspun Group as group CFO and head of technique, overseeing finance, planning, mergers and acquisitions, compliance, and investor relations, in keeping with an inner firm e mail.
What’s going to Arun Kumar’s function be at JioStar?
He’ll lead the corporate’s total finance and business features. Earlier than Kumar’s appointment, Mukesh Mundra taken care of the corporate’s monetary features. The inner e mail stated Kumar’s presence on the board would bolster its deal with sustaining monetary agility and self-discipline as the corporate grows its footprint and accelerates decision-making throughout markets.
Why is the CFO appointment important for JioStar now?
The appointment comes at a time when the media group is seeking to reduce losses throughout companies. Its streaming platform, JioHotstar, might additionally face harder competitors from Netflix after the latter introduced it’s buying Warner Bros’ movie and TV studio.
Just lately, JioStar additionally introduced an funding of Rs 4,000 crore for a south content material slate over 5 years, citing increased viewership and engagement from the area.
“As we function in a quickly evolving atmosphere, being fleet-footed, responsive and forward-looking is crucial and Arun will play an vital function in accelerating this shift, guaranteeing we have now the monetary techniques, insights and operational flexibility wanted to maneuver with pace whereas persevering with to construct scale and long-term worth as we place JioStar as a digital-first organisation. Arun may also play a key half in partnering with the board, the CEOs, and enterprise leaders to drive development, profitability, and monetary resilience. He’ll lead our total finance and business features,” the inner e mail acknowledged.
What’s Arun Kumar’s background and expertise?
Kumar has practically three many years of economic management expertise throughout international organisations and enormous Indian conglomerates. Based mostly in Mumbai, he has held management roles at Unilever, Vedanta, Normal Electrical and Ola throughout India and worldwide markets, earlier than becoming a member of Welspun Group.
Leave a Reply