Vedanta Resources appoints Deshnee Naidoo as CEO amid demerger plans
Vedanta Resources Ltd (VRL), the parent company of Mumbai-based mining conglomerate Vedanta Ltd, has appointed Deshnee Naidoo as its first Chief Executive Officer (CEO) to lead the firm’s next phase of growth, PTI reported.
Naidoo’s appointment comes as Vedanta Ltd, VRL’s Indian subsidiary, moves forward with its demerger strategy aimed at unlocking greater value for stakeholders.
This is her second tenure with Vedanta, having previously worked in senior leadership roles, including CEO of Vedanta Zinc International and CEO of Africa Base Metals, between 2014 and 2020.
Before rejoining, she was the CEO of Vale Base Metals.
With over two decades of experience in the resources sector across multiple geographies and diverse metals and minerals, Naidoo’s leadership is expected to drive Vedanta’s expansion.
"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," said Vedanta Group Chairman Anil Agarwal.
He highlighted her alignment with the company’s commitment to sustainability, green energy, circular economy initiatives, and digital transformation.
Naidoo, whose appointment takes effect from January 20, 2025, described her return as a "homecoming" and expressed enthusiasm for the company’s growth prospects enabled by the demerger.
Vedanta’s shareholders and creditors are set to convene next month to vote on the proposed demerger, which, if approved, will separate its various business verticals into independent entities.
The company recently revised its demerger plan, opting to retain its base metals undertaking within the parent firm following discussions with stakeholders, including lenders.
Previously, Vedanta had announced that post-demerger, its businesses would be structured into six standalone entities: Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals, and Vedanta Ltd.
Vedanta Resources Ltd operates across multiple countries, including India, South Africa, Zambia, Saudi Arabia, UAE, South Korea, Taiwan, Japan, Namibia, and Liberia.
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