Anil Agarwal-led Vedanta’s oil and gas division Cairn will see a high-profile exit with its Chief Executive Officer Ajay Kumar Dixit set to end his term later this month a year after taking charge.
Dixit will be the fifth CEO to leave India’s largest private sector oil company, since Agarwal’s Vedanta took over in 2011. Cairn Oil & Gas said in a statement that Dixit is superannuating from the company at the end of his five-year term at the group in May.
Though Vedanta Resources announced the acquisition of 58.8 per cent of Cairn India from Cairn Energy for $8.67 billion in August 2010, the acquisition got completed in December 2011. In April 2017, Agarwal completed the merger of Cairn India with Vedanta, following which the former got delisted from the BSE.
