New Delhi, Apr 13 (PTI) Reliance Power today said its board has approved the appointment of K Raja Gopal as its chief executive, with effect from May 2, 2018.

Also, Gopal will take charge as a whole-time director from July 1, 2018.

The board in its meeting held today also appointed Shrenik Vaishnav as chief financial officer, with effect from May 2, 2018.

Explaining reasons for changes, the company said, N Venugopala Rao, whole-time director, chief executive officer and with additional responsibility of chief financial officer, will superannuate from the services of the company from the close of business hours on June 30, 2018.

However, Rao will relinquish the office of CFO from close of business hours of May 1, 2018, Reliance Power in a BSE filing.

Rao will cease to be the CEO and CFO from close of business hours of May 1, 2018, and cease to be the whole-time director from close of business hours of June 30, 2018, it added.

The appointment of Gopal as CEO from May 2, 2018, and whole-time director from July 1, 2018, for a period of 3 years, is a subject to the approval of shareholders.

Gopal has over thirty-five years of industry and leadership experience in both public and private domains.

The company said that he is a well acknowledged leader in power industry circles of the country known for deep insight, vision, team building capability, fostering strong relationships and a proven track record of execution and operation of large independent power projects.

Gopal has chaired the ‘Association of Power Producers’ and also was a member of National Committee on Power at CII and FICCI at New Delhi.

Vaishnav is a chartered accountant and has over 28 years of experience in finance, accounting, corporate restructuring, M&A, mobilisation of financial resources and setting up of control systems, etc.

Currently, the company said that he is working as senior vice president (corporate accounts) and chief accounts officer (CAO) with Reliance Communications Ltd and has worked in the past with Nirma Ltd, Torrent Pharmaceuticals Ltd, etc.

This is published unedited from the PTI feed.