-
Cairn CEO and CFO resign; Vedanta arm says movements unconnected
Both the Chief Executive Officer (CEO) Sudhir Mathur and Chief Financial Officer Pankaj Kalra at Vedanta’s oil and gas division Cairn Oil and Gas resigned last week. However, the company said that the movements – including resignation of the company’s chief internal audit and risk assurance director three months back – are unconnected.
The resignations holds significance as Mathur would be the fourth CEO moving out of Cairn Oil and Gas post its acquisition by Vedanta in 2011
The company’s spokesperson responding to energyWorld’s query on the resignations in a statement said, “Such movements are part of a natural evolution in any organization, and are in line with career aspirations and personal priorities of individuals. Having a strong and healthy leadership pipeline is the key in a high-growth organisation like ours. We want to emphasize here that these movements are unconnected and have been spread over a period of time.”
Vedanta’s Aluminium and power divisions CEO Ajay Dixit has taken interim charge of the oil and gas division, Business Standard reported today.
Vedanta won the rights to exploit 41 blocks last year under India’s maiden Open Acreage Licensing rounds (OALP I) last year and won two blocks under the recently concluded Discovered Small Field Round II. The company is looking at spending Rs 12,000 crore in the span of seven years in its flagship Barmer block in Rajasthan
Share This
