ReNew Announces Appointment of Kailash Vaswani as Chief Financial Officer
Kailash Vaswani is President, Corporate Finance at ReNew, previously served as interim CFO and is a founding member of the company. He has been instrumental in raising over $15 billion in debt and equity for the company since its inception.
September 08, 2023. By News Bureau
Kedar Upadhye is resigning to pursue an opportunity outside of ReNew in a product-focused sector and his decision to resign is solely for personal reasons and is not the result of any dispute or disagreement with ReNew, the Board or management or any matter relating to relate to ReNew’s operations, performance, policies or practices. The Board thanks Upadhye for his service and wishes him all the best in his future endeavors.
Upadhye will continue to serve as Chief Financial Officer of ReNew until the date of his resignation. Following the resignation of Upadhye, Kailash Vaswani has been appointed as Chief Financial Officer of ReNew.
Kedar Upadhye said: “ReNew is a leader in the Indian renewable energy market, including in the area of corporate governance and control, and I am confident that the company has a great future ahead. I would like to thank the board and management of ReNew, especially Sumant, for a rewarding experience.”
Kailash Vaswani is President, Corporate Finance at ReNew, previously served as interim CFO and is a founding member of the company. He has been instrumental in raising over $15 billion in debt and equity for the company since its inception. In addition, he was responsible for merger and acquisition transactions with several notable investors and led the areas of treasury, capital allocation, IR and cash management.
As a member of ReNew's Executive Board, he has been instrumental in the growth of the company, being involved in strategic decisions and building the organization, as well as growing the asset portfolio through organic and inorganic additions.
Vaswani is a Chartered Accountant and has previously worked in the financial markets. He started his career as a Research Analyst at CRISIL (owned by S&P and India's leading ratings provider) before moving to Morgan Stanley, where he was responsible for fixed income research covering the US and European fixed income markets. Mr. Vaswani also worked at Aditya Birla Group and Saffron Asset Advisors in various corporate finance and investment roles, supporting them in investment decisions worth over $6.5 billion in India and the United States.
Kailash Vaswani said: “I look forward to taking on this role and continuing my journey to make ReNew the best decarbonization solutions provider in the world. This is just the beginning of a multi-decade energy transition and I am delighted to be part of the ReNew team.”
Sumant Sinha, Founder, Chairman and CEO, ReNew, said: “It is unfortunate that Kedar is leaving us, but we recognize that people have personal reasons. We wish him all the best. We are fortunate to have someone of Kailash's caliber in our organization and are excited for him to take on the role of CFO. Kailash has been instrumental in helping ReNew achieve leadership in the sector through his decades of fundraising and financial activities at ReNew.”
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