JSW Group CFO Seshagiri Rao steps down from board after more than 25 years of service

Joint Managing Director and Group CFO of JSW Group, Seshagiri Rao, has stepped down from the board on completion of his tenure, after more than 25 years of service. Seshagiri Rao also superannuated from the services of the company, JSW Group said in a filing.

Rao served the company for more than 25 years. He had joined JSW Group in 1997 as Chief Financial Officer. The company said that Rao played a key role in the growth of the group since he joined.

“Mr. Seshagiri Rao M.V.S, Jt. Managing Director & Group CFO (Din No. 00029136) has ceased to be a Wholetime Director of the Company with effect from April 6, 2023, on completion of his term approved by the Shareholders in the Twenty Sixth Annual General Meeting of the Company held on July 23, 2020 (April 6, 2020 to April 5, 2023),” stated the filing.

Rao ceased to be the Director with effect from April 6, 2023. The company said that he will be associated with the group as ‘Group CFO’.

“Mr. Seshagiri Rao M.V.S has also superannuated from the services of the Company and has consequently stepped down from the Board,” stated the company in the statement.

JSW Group stated that it deeply appreciates the “valuable services” rendered by Rao during his tenure in the company.

He was responsible for overall operations of JSW Steel including strategy formulation, expansion, looking after mergers and acquisitions, as well as cost management.

Rao has an experience of over 30 years in the steel sector and in areas of corporate finance and banking.

As a key part of JSW, Rao was involved in all strategic decision making within the group.

Rao is also a Certified Associate of the Indian Institute of Bankers, and has a diploma in Business Finance from the Institute of Chartered Financial Analysts of India.

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