MUMBAI: DDB Mudra Group has announced Anurag Bansal as chief financial officer (CFO) of the group, effective 1 January.

Bansal takes over from Dilipkumar Upadhyaya who has stepped down after 26 years with the group. Upadhyaya will however continue to be a consultant with the group.

In his new role, Bansal will oversee the finance, legal & commercial and information technology functions of all entities under the group, in addition to heading the financial integration of the DDB Mudra Group with Omnicom Group.

With over 16 years of experience Bansal said, “I am very excited to step in to the role of the group CFO. The CFO of today is very different from the CFO of even a decade ago. The CFO's role today goes beyond the mere accuracy of numbers. Apart from implementing a robust process for financial information, compliance and corporate governance, together with a high level of risk assessment, he is required to have a more sophisticated understanding of all areas of the business and its operations. The journey for me has just begun and I look forward to some challenging yet exciting times ahead!”

He is also a trustee of the Mudra Foundation for Communications Research and Education.

On the appointment, DDB Mudra Group CEO and MD Madhukar Kamath said, “Anurag, in the short span of six years with us, has grown tremendously within the DDB Mudra Group. Apart from his professional capability and competence, I truly admire his energy, enthusiasm and leadership qualities. I am glad to have him partner me in our next phase of growth.”