Vedanta CFO Sonal Shrivastava resigns; Ajay Goel to be appointed as replacement

25 Oct 2023 , 01:35 PM

Sonal Shrivastava, the Chief Financial Officer of Vedanta Limited resigned on Tuesday citing personal reasons. The board of directors has opted to reappoint Ajay Goel, who left the firm in April to join ed-tech startup Byju’s, as Shrivastava’s replacement.

Shrivastava resigned from the company as CFO and Key Managerial Personnel (KMP) on October 24, 2023, claiming personal reasons.

Between October 2021 and April 2023, Goel served as Vedanta’s Acting CFO & KMP. Goel left Vedanta to join the troubled startup Byju’s. Byju’s said on Tuesday that Goel had left the firm after the audit was completed.

Goel is returning to Vedanta at a critical point in its history, as it undergoes massive restructuring.

Mining billionaire and Vedanta CEO Anil Agarwal has revealed intentions to break the firm into six distinct divisions in order to offer shareholders more bang for their buck and improve the company’s financial performance.

Subject to clearances, the full reorganisation process is expected to be completed by the fiscal year 2025, with Hindustan Zinc CEO Arun Misra overseeing Vedanta Ltd.

At around 1.19 PM, Vedanta was trading 0.33% higher at Rs 215.75, against the previous close of Rs 215.05 on NSE. The counter touched an intraday high of Rs 219.90 and a low of Rs 214.30.

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