JioStar brings in ex-Welspun group CFO G R Arun Kumar as finance head

JioStar has appointed former Welspun Group CFO G R Arun Kumar as its chief financial officer. He will lead finance and commercial functions, the company said in an internal email

JioStar has appointed G R Arun Kumar as its chief financial officer (CFO). Kumar earlier led Welspun Group as group CFO and head of strategy, overseeing finance, planning, mergers and acquisitions, compliance, and investor relations, according to an internal company email.

 

What will Arun Kumar’s role be at JioStar?

 

He will lead the company’s overall finance and commercial functions. Before Kumar’s appointment, Mukesh Mundra looked after the company’s financial functions. The internal email said Kumar’s presence on the board would bolster its focus on maintaining financial agility and discipline as the company grows its footprint and accelerates decision-making across markets.

 

Why is the CFO appointment significant for JioStar now?

 

The appointment comes at a time when the media group is looking to cut losses across businesses. Its streaming platform, JioHotstar, could also face tougher competition from Netflix after the latter announced it is acquiring Warner Bros’ film and TV studio.

 

Recently, JioStar also announced an investment of Rs 4,000 crore for a south content slate over five years, citing higher viewership and engagement from the region.

 

“As we operate in a rapidly evolving environment, being fleet-footed, responsive and forward-looking is critical and Arun will play an important role in accelerating this shift, ensuring we have the financial systems, insights and operational flexibility needed to move with speed while continuing to build scale and long-term value as we position JioStar as a digital-first organisation. Arun will also play a key part in partnering with the board, the CEOs, and business leaders to drive growth, profitability, and financial resilience. He will lead our overall finance and commercial functions,” the internal email stated.

 

What is Arun Kumar’s background and experience?

 

Kumar has nearly three decades of financial leadership experience across global organisations and large Indian conglomerates. Based in Mumbai, he has held leadership roles at Unilever, Vedanta, General Electric and Ola across India and international markets, before joining Welspun Group.