Vedanta Resources PLC Cairn India announcement (9021Y)
20 May 2016 - 10:42PM
UK Regulatory
TIDMVED
RNS Number : 9021Y
Vedanta Resources PLC
20 May 2016
Vedanta Resources plc
16 Berkeley Street
London W1J 8DZ
Tel: +44 (0) 20 7499 5900
Fax: +44 (0) 20 7491 8440
www.vedantaresources.com
20 May 2016
Vedanta Resources plc
Cairn India Limited announcement
Vedanta Resources plc's subsidiary Cairn India Limited today
made the following announcement.
Cairn India Limited Announcement
Cairn India Ltd. announces that Mr. Mayank Ashar, Managing
Director & CEO has decided to step down for personal reasons
effective 5(th) June, 2016. Mr. Sudhir Mathur, CFO, will lead the
organization as the acting CEO and will continue to work closely
with the leadership team in managing the business under the
guidance of the Board. Mr. Ashar will provide transition support to
Mr. Mathur through 30(th) June, 2016.
The Board expresses its appreciation for Mayank's contribution
during his association with the Company. Under Mayank's leadership,
Cairn India has delivered a resilient performance in a challenging
business environment.
Cairn India remains committed to maintain one of the lowest cost
operations in the world, to pursue innovations and technology in
its asset portfolio and create substantial value for its
stakeholders.
Mr. Navin Agarwal, Chairman, Cairn India Ltd., said: "Mayank has
had a positive stint at Cairn. He leaves Cairn India in the hands
of a strong leadership team. Cairn India shares the country's
vision for energy security and I am sure that Sudhir and the team
will continue to strongly pursue the organization's goal."
For further information, please contact:
Communications Finsbury
Roma Balwani Daniela Fleischmann
President - Group Communications, Tel: +44 20 7251 3801
Sustainability
and CSR
Tel: +91 22 6646 1000
gc@vedanta.co.in
Investors
Ashwin Bajaj Tel: +44 20 7659 4732
Director - Investor Relations Tel: +91 22 6646 1531
ir@vedanta.co.in
Radhika Arora
Associate General Manager
- Investor Relations
Ravindra Bhandari
Manager - Investor Relations
About Vedanta Resources
Vedanta Resources plc ("Vedanta") is a London listed diversified
global natural resources company. The group produces aluminium,
copper, zinc, lead, silver, iron ore, oil & gas and commercial
energy. Vedanta has operations in India, Zambia, Namibia, South
Africa, Ireland, Liberia and Australia. With an empowered talent
pool globally, Vedanta places strong emphasis on partnering with
all its stakeholders based on the core values of trust,
sustainability, growth, entrepreneurship, integrity, respect and
care. For more information, please visit
www.vedantaresources.com.
Disclaimer
This press release contains "forward-looking statements" - that
is, statements related to future, not past, events. In this
context, forward-looking statements often address our expected
future business and financial performance, and often contain words
such as "expects," "anticipates," "intends," "plans," "believes,"
"seeks," "should" or "will." Forward-looking statements by their
nature address matters that are, to different degrees, uncertain.
For us, uncertainties arise from the behaviour of financial and
metals markets including the London Metal Exchange, fluctuations in
interest and/or exchange rates and metal prices; from future
integration of acquired businesses; and from numerous other matters
of national, regional and global scale, including those of a
political, economic, business, competitive or regulatory nature.
These uncertainties may cause our actual future results to be
materially different that those expressed in our forward-looking
statements. We do not undertake to update our forward-looking
statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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