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Vedanta's oil and gas head quits; fifth since Cairn India acquisition


Dixit had the shortest tenure of just over a year as the head of the firm that operates the nation's biggest onland field in Barmer in Rajasthan

twitter-logoBusinessToday.In | May 18, 2020 | Updated 20:10 IST
Vedanta's oil and gas head quits; fifth since Cairn India acquisition

Ajay Dixit, CEO of Anil Agarwal-led Vedanta Limited's oil and gas division Cairn, has quit at month-end after completing the contractual term. Dixit, 61, who was appointed as CEO in mid-April 2019 decided not to seek extension, news agency PTI reported citing unidentified sources. "Ajay Kumar Dixit moves on from his role as CEO, Cairn Oil & Gas, Vedanta Ltd as he concludes his contract with the company on May 31, 2020," the company told PTI.

"He has led the company's oil business and digital transformation to drive production for the energy needs of the nation, including through recent oil price volatility and the COVID-19 pandemic, and the management wishes him the best as he moves on to pursue his personal goals," the statement said. Dixit, the statement also said, "will retire from the company on May 31, 2020".

Dixit had the shortest tenure of just over a year as the head of the firm that operates the nation's biggest onland field in Barmer in Rajasthan. He was acting CEO of Vedanta's aluminum and power business before being elevated as CEO of Cairn Oil & Gas. His appointment had come after Sudhir Mathur resigned from the company. Dixit is the fifth CEO to have left the company since Vedanta completed the acquisition of Cairn India in December 2011. He is leaving the firm just when Anil Agarwal announced his intention to take Vedanta private by offering to buy out minority shareholders.

"Ajay has been leading the oil and gas business and digital transformation, driving production to serve the energy needs of the nation, including through recent oil price volatility and the COVID-19 pandemic. The management wishes him the very best," Sunil Duggal, Group CEO, Vedanta Ltd, said while thanking Dixit for his contribution.

Also read: India's GDP to contract 45% in June quarter, stimulus package 'strikingly smaller': Goldman Sachs

Also read: Coronavirus lockdown 4.0: What activities will be allowed in red zones from today?

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