2nd May 2014 11:40
LONDON (Alliance News) - Vedanta Resources PLC Friday said that Pandarinathan Elango, Interim Chief Executive and Whole Time Director of its subsidiary Cairn India Ltd, has stepped down for personal reasons.
Vedanta Resources said that Cairn India's Chief Financial Officer Sudhir Mathur has taken on the additional responsibilities of Elango's role on an interim basis.
Tom Albanese, Chief Executive of Vedanta Resources and Mike Yeager, Chairman, Operations Review Board, Cairn India, will continue to work closely with the leadership team in managing the business under the guidance of the board, the company said.
Cairn India said it remains focused on realising the full potential from the Rajasthan block.
Vedanta Resources shares were up 2.1% at 944.50 pence Friday. Cairn Energy shares were trading up 1.7% at 186.5 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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