off-the-wire

UPDATE 1-India's Vedanta names Holcim exec Sonal Shrivastava as CFO

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds details on CFO, company background) BENGALURU, May 15 (Reuters) - Indian resources conglomerate Vedanta Ltd on Monday named Holcim AG executive Sonal Shrivastava as its new chief financial officer, effective June 1.


The move comes as Vedanta's parent, Vedanta Resources, tries to trim its debt amid concerns over its ability to meet financial obligations.


It also follows a lapse in Hindustan Zinc Ltd's proposed deal to buy zinc assets from Vedanta for $2.98 billion. Shrivastava joins Vedanta from the Holcim Group where she worked as the CFO for Asia Pacific, Middle East & Africa operations, Vedanta said in a statement. Last week, Vedanta posted a 68% slump in fourth-quarter profit amid declining prices of metals.



(Reporting by Chris Thomas and Kashish Tandon in Bengaluru)

kashish.tandon@thomsonreuters.com))
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