Srikanth Venkatachari has been appointed as the new Chief Financial Officer (CFO) of Reliance Industries Ltd (RIL).

He will take charge of the new responsibility from June 1.

This information was given by the company in a stock exchange filing on Friday.

The decision was taken by RIL's board of directors in a meeting held on Friday.

Venkatachari, who is currently the Joint CFO of the company since 2011, will succeed Alok Agarwal.

Agarwal has been appointed as senior advisor to the Chairman and Managing Director Mukesh Ambani, and will be assisting him on a wide range of strategic issues with effect from June 1, after 30 years of distinguished service, RIL informed in the exchange filing.

"Agarwal is an accomplished finance professional. He was appointed as the CFO of the company in 2005. The board appreciated Alok Agarwal for his contribution in the transformative journey of the company," the stock filing said.