Grasim Industries Limited Board of Directors at its meeting held on 16 June 2022, inter-alia, based on the recommendation of the Nomination and Remuneration Committee and Audit Committee, have approved the appointment of Mr. Pavan Jain as the next Chief Financial Officer (CFO) and Key Managerial Personnel of the Company with effect from 15th August 2022. Mr. Jain is not related to any of the Directors and Promoters of the Company. This appointment comes in the wake of Mr. Ashish Adukia's plan to pursue career opportunities outside the Aditya Birla Group.

He will be relieved from his current responsibilities as Chief Financial Officer of the Company with effect from 14th August 2022. Mr. Pavan Jain is a Fellow Member of the Institute of Chartered Accountants of India and an Associate Member of the Institute of Company Secretaries of India. He has undergone Executive Development Program of The Wharton School, University of Pennsylvania, USA.

He has been with the Aditya Birla Group since 1991. Presently he is the Senior President, Grasim Industries Limited (Grasim) and has a stellar career track record spanning over three decades in the Group in different stints with Birla White, Grey Cement and Grasim. He joined Corporate Finance Division of Grasim in 2004.

He has contributed in establishing some of the best practices in the Financial Reporting, Internal Controls and Risk Management systems across Grasim Businesses and also to various Corporate/Business restructuring plans and M&A activities of the Company notable among them are the Cement business restructuring, Aditya Birla Nuvo Limited merger with Grasim, acquisition of Domsjo pulp unit in Sweden, acquisition of Soktas India Private Limited now Grasim Premium Fabrics division and divestments of Vikram Ispat, Grasim Bhiwani Textiles Limited, Indo Gulf Fertilisers division of Grasim.