Vedanta CFO Sonal Shrivastava quits within months of taking up job

NEW DELHI: Vedanta on Tuesday said Chief Financial Officer (CFO) Sonal Shrivastava has resigned making her third incumbent to quit in as many as years from the post in the billionaire Anil Agarwal-controlled company.

Ajay Goel, who is currently the CFO at edtech startup Byju’s, will return as Vedanta’s CFO effective from October 30, the company said in a statement.

Shrivastava had joined Vedanta in June, and was the third person to hold the position since 2021 after GR Arun Kumar and Ajay Goel who had quit Vedanta in April this year to take up the same job at Byju’s.

The upheaval in CFOs comes at a time when the metals-to-oil conglomerate is in the midst of a structural overhaul which involves splitting the business into six separate divisions to tackle its massive debt problem.

Vedanta Resources has huge outstanding dues including $4.2 billion that the company has to pay by the next financial year 2024-2025.

It has seen several rating downgrades because of its debt woes and the shares of the company have plunged by as much as 30 per cent this year.