DLF Gets CFO Without Pay In Managing Director Ashok Tyagi

DLF Ltd. enhanced the role of its Managing Director Ashok Kumar Tyagi by formally also appointing him as chief financial officer of the company.

Tyagi was entrusted with the responsibility of finance oversight on 11 December 2023 following the resignation of CFO Vivek Anand, the Indian real estate developer said in a stock exchange announcement.

Anand left the company on 29 February 2024 after a stint of over four years to pursue other career avenues.

DLF said its board approved Tyagi’s appointment as CFO with effect from 13 May in addition to his managing director position after considering that he had served as the company’s finance chief for a considerable period and possesses high level of financial skills.

“No separate remuneration is proposed to be paid for his additional role as the CFO of the company,” it added.

The Gurugram, Haryana-based developer said Tyagi will continue to hold the additional responsibility until a new CFO is appointed.

DLF said Tyagi provides oversight to the functions of finance, accounts, taxation, corporate affairs, corporate legal, internal audit, information technology and human resources, His area of expertise includes business management, strategy, risk management, finance and taxation, as well as merger and acquisition, it noted.

Tyagi -- an alumnus of IIT, Roorkee and IIM, Ahmedabad -- possesses experience of over three decades in various capacities, according to the statement. Before joining DLF, he worked with Genpact, General Electric and IFFCO, it said.

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