Ajay Srinivasan resigns from Aditya Birla Group

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Editor's note: Ajay Srinivasan, former chief executive of Aditya Birla Capital, has resigned from the Aditya Birla Group. The move comes after the group’s financial services arm said in May that Srinivasan had decided to step down as its MD and CEO “to take on a new role within the group”. “After a long stint with ABC, he was keen to pursue new and different challenges. We, therefore, mutually explored alternate roles within the Aditya Birla Group. However, after due consideration, he has decided to pursue prospects outside the group. We fully respect and support his decision and value his contribution to the financial services business,” said an Aditya Birla Group spokesperson in an email response. The resignation came on 31 October 2022. Srinivasan spearheaded the largely commodity-led group portfolio in a fast-growing financial services sector. Under his leadership, the group built a bigger business portfolio than the Tata group, Reliance and Mahindra.  “He is most likely to start something of his own now,” said a senior executive at the group, requesting anonymity. Srinivasan didn’t respond to the queries sent by The …