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Aditya Birla Capital on Monday said that outgoing CEO Ajay Srinivasan is transitioning to a new role being crafted at the group level in consultation with him. Srinivasan had expressed his desire to take on a new role within the group, after having served as chief executive for over 14 years.Aditya Birla Capital on Monday said that outgoing CEO Ajay Srinivasan is transitioning to a new role being crafted at the group level in consultation with him. Srinivasan had expressed his desire to take on a new role within the group, after having served as chief executive for over 14 years, the statement said. The clarification comes after a news report earlier today cited a whistleblower letter, which alleged that Srinivasan was asked to leave due to corruption, insider trading and front running at Aditya Birla Sun Life Asset Management Company (AMC). “A story has appeared this morning based on insinuations of vested interest. These insinuations/allegations are bereft of facts and we wish to emphatically deny them,” said the Aditya Birla Capital spokesperson.

Read more: https://www.financialexpress.com/market/aditya-birla-capital-clarifies-on-ceo-srinivasans-exit-says-found-no-merit-in-whistleblower-complaints-2527041/