Ajay Goel, a seasoned finance expert, has re-assumed the role of Chief Financial Officer at Vedanta Ltd. This development comes at a pivotal juncture as the mining and metal conglomerate, under the helm of billionaire Anil Agarwal, embarks on an ambitious business restructuring initiative.
The appointment follows the resignation of Sonal Shrivastava, who had taken on the role only a few months ago. In a stock exchange filing, Vedanta officially announced Goel's appointment as CFO, effective October 30, 2023.
It was announced that Ajay Goel's return to the company is a part of Vedanta's organized re-hiring program.
Goel holds national rankings as both a Chartered Accountant and a Company Secretary, boasting extensive experience in leadership roles at renowned global multinational corporations, including General Electric, Nestle, Coca-Cola, and Diageo – USL.
However, Goel previously served as the acting Chief Financial Officer (CFO) at Vedanta, holding the position from October 23, 2021, to April 9, 2023.
Vedanta said, "During his earlier role at Vedanta, Ajay contributed significantly to driving business performance, managing the company's financial affairs and heading the finance function with his leadership acumen. He was also instrumental in successfully handling regulatory approvals, investment matters, capital allocation, investor relations and major M&A-related affairs."
Vedanta recently unveiled a strategic initiative to enhance its market valuations and appeal to potential investors. Under this plan, the company intends to undergo a demerger, creating six distinct listed entities. These entities will encompass Vedanta's various core businesses, including metals, power, aluminium, and oil and gas, each to be separately listed with the aim of unlocking their inherent value.
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