Vedanta Limited announces change in company's top management

KOLKATA: Vedanta Limited on Friday announced a change in the top deck of the company’s management by appointing Sunil Duggal, CEO of Hindustan Zinc Ltd (HZL) as interim Chief Executive Officer. Mr Duggal will replace Srinivasan Venkatakrishnan who is stepping down early next month.

The company’s board also appointed Anil Agarwal, chairman Vedanta Resources as the Non-Executive Chairman of Vedanta Limited. Navin Agarwal will be the Executive Vice Chairman of the board.

Announcing Mr Duggal’s appointment on Friday, an official statement from the company said: “Srinivasan Venkatakrishnan will be stepping down as CEO and Director of the Company with effect from 5th April 2020, for personal reasons and will rejoin his family in South Africa.”

Venkatakrishnan or Venkat as he was widely referred to, joined as CEO of Vedanta Resources on August 31, 2018. Before taking charge at Vedanta, he was CEO of Johannesburg-based AngloGold Ashanti Ltd.

Commenting on the new appointment, Vedanta Ltd chairman, Navin Agarwal said: “We extend a warm welcome to Sunil Duggal who has been a mature and proven leader and held key leadership positions, as our Interim CEO. We look forward to Sunil taking the company to greater heights.”

He also expressed deep appreciation and thanked Venkat for his immense contribution to the company. “Apart from his relentless focus to drive the company, he has been in the forefront in leading the sustainability practices within the group which has set an industry benchmark. We wish him the very best,” Agarwal said.

“The company will be run by a Management committee comprising of CEO, CFO, CHRO and CCO who will take all key decisions collectively under the guidance of the chairman,” the official statement said.

Duggal, who has been associated with the group for almost a decade, will take on additional charge as interim CEO, Vedanta Limited along with his current role as CEO & Director of HZL and will report to the chairman, the statement added.

Commenting on his appointment, Duggal said: “I am confident that at Vedanta, with its strong moorings, I will be able to steer the company through its trajectory of growth and contribute to the economic progress of our country.”


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