Jio Financial gets ministry nod to appointment Hitesh Kumar Sethia as MD and CEO for 3 years

Jio Financial Services has secured the approval from the Ministry of Corporate Affairs for the appointment of Hitesh Kumar Sethia as managing director and chief executive officer of the company.

The appointment is effective from November 15, 2023 and is valid for three years, Jio Financial Services said in a regulatory filing. The company received the approval on April 24, it said.

"The managerial personnel shall give an undertaking to the company that he shall not for long as he functions as such become interested or otherwise concerned directly or through spouse and/or minor children in any selling agency of the company in future without the prior approval of the central government. This appointment shall be conditional upon the furnishing of such an undertaking and shall cease in the event of the contravention of the same," the ministry said.

Sethia is an alumnus of Harvard Business School Executive Education where he pursued an advanced management programme and a certified chartered accountant. He has worked with companies across Europe, Asia, and North America.