MUMBAI, May 2, 2014 /PRNewswire/ --
The following release was issued today by Sesa Sterlite
Limited's subsidiary Cairn India Limited.
Cairn India Limited
Announcement
Cairn India Ltd. announces that Mr. P Elango, Interim CEO &
Whole time Director has decided to step down for personal reasons.
The Board has accepted his resignation. Mr. Sudhir Mathur, CFO, has taken over the
additional responsibility of leading the organization in the
interim. Tom Albanese, CEO Vedanta Resources plc 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.
(Logo:
http://photos.prnewswire.com/prnh/20140117/663814 )
The Board expresses its appreciation for Mr. Elango's
significant contribution during his nearly 18 years' association
with the company. Under Elango's leadership, Cairn delivered
200,000 boepd from the Rajasthan block and achieved record levels
of financial revenue & profitability.
Cairn India remains focused on
realizing the full potential from the Rajasthan block. Our
immediate and medium-term priorities therefore are efficient
execution of the key projects in hand.
Mr. Navin Agarwal, Chairman,
Cairn India Ltd., said: "Elango has had a successful stint at
Cairn. He leaves Cairn India in the hands of a strong technical and
business organization. Cairn India
has a terrific future and I am confident that Sudhir Mathur and the team will steer the
organization to realize its true potential."
About Sesa Sterlite Limited
Sesa Sterlite Limited ("Sesa Sterlite") is one of the world's
largest diversified natural resources companies. Our business
primarily involves exploring, extracting and processing minerals
and oil & gas. We produce oil & gas, zinc, lead, silver,
copper, iron ore, aluminium and commercial power and have a
presence across India,
South Africa, Namibia, Ireland, Australia, Liberia and Sri
Lanka. Sesa Sterlite has a strong position in emerging
markets with over 80% of its revenues from India, China,
East Asia, Africa and the Middle East.
Sustainability is at the core of Sesa Sterlite's strategy, with
a strong focus on health, safety and environment and on enhancing
the lives of local communities.
Sesa Sterlite is a subsidiary of Vedanta Resources plc, a
London-listed company. Sesa
Sterlite is listed on the Bombay Stock Exchange and the National
Stock Exchange in India and has
ADRs listed on the New York Stock Exchange.
Sesa Sterlite Limited
(Formerly known as Sesa Goa Limited)
Vedanta, 75, Nehru Road,
Vile Parle (East), Mumbai - 400
099
http://www.sesasterlite.com
Registered Office:
Sesa Ghor, 20 EDC Complex,
Patto, Panaji (Goa) - 403
001
CIN: L13209GA1965PLC000044
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.
Contact Details
Media Relations
Dr Sunil Bharati,
Chief Technology Officer & Head, Corporate Affairs &
Communications
+91-124-459-3138. Mobile +91-99104-86055
cilmedia@cairnindia.com; spokesperson@cairnindia.com
Investor Relations
Nidhi Aggarwal, Head - Investor
Relations
+91-124-459-3490. Mobile +91-98101-97755
cilir@cairnindia.com
For further information, please
contact:
Communications
Roma Balwani
Executive Vice President - Group Communications & CSR
Tel: +91-22-6646-1330
gc@vedanta.co.in
Investor Relations
Ashwin Bajaj
Senior Vice President - Investor Relations
Sheetal Khanduja
Assoc. General Manager - Investor Relations
Hitesh Dhaddha
Manager - Investor Relations
Tel: +91-22-6646-1531
Sesasterlite.ir@vedanta.co.in
