Saurabh Chawla the Chief Financial Officer (CFO) of realty giant DLF has quit the company to explore new professional opportunities, said DLF in its official communiqué.
Ashok Kumar Tyagi, the company’s whole-time director, would now be the new group chief financial officer (CFO), DLF said in a filing to the BSE.
Chawla had joined DLF in April 2006, and he was elevated as the CFO in December last year. Tyagi was the former group CFO before Chawla.
Both Tyagi and Chawla had played a significant role in the big-ticket deal where DLF promoters sold their 40 per cent stake in rental arm DLF Cyber City Developers Ltd (DCCDL) for Rs 12,000 crore.
The company recently received a whopping Rs 9000 crore fund from Singapore’s sovereign fund GIC for 33.34 percent stake.
“Saurabh Chawla, Group CFO, DLF Ltd, has expressed his wish to move on, in his desire for exploring new professional opportunities and tendered his resignation,” said the company in its official communiqué.
“The Board and audit committee also decided that Ashok Kumar Tyagi, Whole-time Director, who was the Group CFO till December 2017, will assume responsibility and functions of the Group CFO and will work with Saurabh Chawla to ensure a seamless transition,” DLF said, adding that the transition should be complete by January 2019.
Chawla holds a B.Com (Hons) degree from the University of Delhi and an MBA (Finance) from Pace University, New York. He has more than 20 years of work experience in corporate finance domain.
Before joining DLF, Chawla had worked with Global Capital Management Group, First Capital, GE Capital, Intellistudent Services Pvt Ltd and Moser Baer India Ltd.