New leadership at Vedanta: Deshnee Naidoo appointed as first CEO amid demerger plans
Her appointment comes at a time when Vedanta Resources Ltd's Indian subsidiary, Vedanta Ltd, is demerging its businesses to unlock significant value for stakeholders
Vedanta Resources Ltd (VRL), the parent firm of Mumbai-based mining conglomerate Vedanta Ltd, on Wednesday announced the appointment of Deshnee Naidoo as its first Chief Executive Officer (CEO) to spearhead its fresh growth phase.
Strategic Timing for Leadership Change
Her appointment comes at a time when Vedanta Resources Ltd's Indian subsidiary, Vedanta Ltd, is demerging its businesses to unlock significant value for stakeholders. This marks Naidoo's second stint with the company. In her previous assignment, Naidoo was CEO of nickel and copper firm Vale Base Metals. Naidoo's appointment is with effect from January 20, 2025, the company said in a statement.
A Wealth of Industry Experience
She was with Vedanta from 2014 to 2020 and served in senior leadership roles including CEO of Africa Base Metals and CEO of Vedanta Zinc International. Deshnee brings with her over two decades of experience in the resources business across different geographies and diversified metals and minerals.
"Deshnee joins us at an exciting phase in our journey...we are now embarking on a new phase of growth which will make us a 100-billion dollar critical minerals, energy and technology company, serving India and the world," Vedanta Group Chairman Anil Agarwal said.
Focus on Sustainable Expansion
The company is focused on sustainable expansion, advancing green energy, circular economy initiatives, and digital transformation to redefine the resource sector. The shareholders and creditors of Vedanta will meet next month to decide on the proposed demerger of the company.
Demerger Plans and Future Structure
The approval of the demerger proposal will pave the way for the company's various business verticals to become separate entities. "This is homecoming for me, and I look forward to an exciting growth phase at Vedanta, enabled by the demerger," Naidoo said. Vedanta Resources Ltd is a diversified global natural resources, energy and technology company spanning across India, South Africa, Zambia, Saudi Arabia, UAE, South Korea, Taiwan, Japan, Namibia and Liberia.
Revised Demerger Proposal
Vedanta Ltd had last month said that it has revised its demerger proposal and decided to retain the base metals undertaking within the parent firm. In a regulatory filing, Vedanta had said that the decision was taken following deliberations with stakeholders, including lenders with respect to the scheme and approval by the board of directors in a meeting held on Friday.
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