Cairn India: Interim CEO steps down

Cairn India Ltd. announces that P Elango, Interim CEO & Whole time Director has decided to step down for personal reasons. The Board has accepted his resignation.

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.

The Board expressed its appreciation for 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. The company said its immediate and medium-term priority is efficient execution of the key projects in hand.

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.”