Cairn India CEO Sudhir Mathur, CFO Pankaj Kalra quit
New Delhi: In a surprise development, Cairn India Chief Executive Sudhir Mathur and its Chief Financial Officer Pankaj Kalra have quit the company. Mathur was the fourth CEO to resign from the firm since it was taken over by mining billionaire Anil Agarwal-led Vedanta Group seven years back, according industry sources.
The above resignations came within months of Vedanta winning 41 out of the 55 exploration blocks bid out in India’s first bid round under the open acreage licensing policy.
“Mathur actually resigned about a month back and his resignation was made public only last week. He is currently serving the notice period, which is technically up to May-end, but may leave the company by the end of April,” the source said.
As the news of resignations at the subsidiary broke, the Vedanta stock fell nearly 4 per cent, closing at Rs 181.30 on the BSE, down 3.72 per cent.
Prior to these key resignations, Suniti Bhat, Director Oil & Gas resigned about six months back, followed by chief internal audit and risk assurance director Arup Chakraborty quitting the company.