After quitting as the chief financial officer (CFO) of Byju’s, Ajay Goel is joining his previous company Vedanta as the CFO and Key Managerial Personnel (KMP) of the company with effect from October 30, 2023. Vedanta has recently announced a massive demerger plan that splits its business into six different entities. “As part of Vedanta’s structured re-hiring program called ‘Gharwapsi’, Ajay Goel joins back the Company,” Vedanta said in a regulatory filing.
Ajay Goel is a national rank holder both as a Chartered Accountant and Company Secretary and comes with an experience in global multinational companies such as General Electric, Nestle, Coca Cola and Diageo – USL in various leadership roles.
Ajay Goel was earlier associated with Vedanta as acting CFO & KMP of the Company from October 23, 2021 to April 09, 2023. During his earlier role at Vedanta, Ajay contributed significantly in terms of driving business performance, managing the financial affairs of the company and heading the finance function with his leadership acumen. “He was also instrumental in successfully handling regulatory approvals, investments matters, capital allocation, investor relations and major M&A related affairs,” the company said.
Earlier last month, Vedanta had approved a plan to split itself into six listed companies. Anil Agarwal expects the move to attract investors directly to key businesses and improve the valuation of its component parts and to make it easier to sell some assets in order to reduce the company’s debt load.
Vedanta had also announced the resignation of Sonal Shrivastava from the post of Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the company with effect from close of business hours on October 24, 2023 due to personal reasons.
In her resignation letter, Sonal Shrivastava had said, “I am writing to formally resign from my position as Group CFO at Vedanta Limited effective October 24, 2023, in accordance with the notice period outined in my contract and prior discussions. My decision to resign is due to personal reasons. l appreciate the opportunity to serve as the Group CFO of Vedanta Limited. During my tenure, I have had the privilege of working with the leadership and a dedicated, talented team. The experience has been invaluable. I have completed all necessary tasks to ensure a smooth transition.”
Meanwhile, Byju’s said that it has made new appointments in its finance function, with Pradip Kanakia as senior adviser and Nitin Golani, currently the president-finance, taking charge as India CFO.