Grifols, a Catalan pharmaceutical company, has recently appointed Rahul Srinivasan as its new CFO. Srinivasan, who was previously the head of capital markets and leveraged finance for Bank of America in Europe, the Middle East, and Africa, will replace Alfredo Arroyo who is retiring after 17 years with the company.
As part of Grifols’ executive committee, Srinivasan will report to CEO Nacho Abia and work closely with Arroyo during a transition period to ensure a smooth transfer of responsibilities. The CFO position is crucial for Grifols as the company faces challenges related to debt reduction. Moody’s recently downgraded Grifols’ rating to ‘B3’ from ‘B2′ due to leverage levels and governance issues.
Currently, Grifols has a debt of 10.948 billion euros with a debt ratio of 7.9 times EBITDA. To manage its debt, the company has taken strategic steps such as selling a stake in Shanghai Raas and issuing senior bonds. Srinivasan will be responsible for leading the company’s financial functions globally, including planning, treasury, tax, financial reporting, investor relations and sustainability.
With over 25 years of experience in finance, Srinivasan holds senior management positions at companies like KPMG, Credit Suisse and Bank of America. He is also a Distinguished Fellow of the Institute of Chartered Accountants in England and Wales and holds degrees from the London School of Economics and Political Sciences and the ENPC School of International Management. Srinivasan’s expertise in areas such as audit
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