Vedanta-led Cairn India CEO, CFO quit firm

Vedanta-led Cairn India CEO, CFO quit firm

Cairn India chief executive Sudhir Mathur has resigned from the company, the fourth CEO to quit the firm since it was taken over by mining billionaire Anil Agarwal-led Vedanta Group seven years back

Cairn India chief executive Sudhir Mathur has resigned from the company, the fourth CEO to quit the firm since it was taken over by mining billionaire Anil Agarwal-led Vedanta Group seven years back.

Along with Mathur, Pankaj Kalra, the chief financial officer of Cairn India, which is now a part of Vedanta Ltd after its merger with the parent, has also resigned, sources privy to the development said.

Mathur resigned about a month back and his resignation was made public only last week, the sources said. He is currently serving notice period which is technically up to May-end, but may leave the company by the end of April.Kalra quit a couple of months back.
Prior to these resignations, Suniti Bhat, Director Oil & Gas and Member Executive Committee at the company, resigned about six months back which was followed by the firm’s chief internal audit and risk assurance director Arup Chakraborty quitting the company.

A company spokesperson confirming the resignations said: “Such movements in management are part of 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 emphasise here that these movements are unconnected and have been spread over a period of time.” Mathur did not answer phone calls made to seek his comments.
Mathur, 58, joined Cairn India in January 2013 and was named interim CEO when Mayank Ashar resigned as the chief executive of the company in May 2016.

He continued as interim CEO till the time Cairn India remained a separate listed company under Vedanta Ltd. He was elevated as chief executive officer of oil and gas business at Vedanta Ltd last year when Cairn India was merged with its parent Vedanta Ltd.

Sources said the company has named Ajay Dixit, who was CEO of aluminum and power divisions of Vedanta, to take over from Mathur in the interim period after his exit.



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