Billionaire Anil Agarwal-led Vedanta Ltd’s oil and gas division Cairn CEO Ajay Dixit has decided to hang up his boots at month-end, the fifth chief executive to quit the firm since it was taken over by the mining baron eight years back.
Dixit, who was appointed CEO of Cairn Oil and Gas in mid-April last year, has decided not to seek an extension of his contract when it comes to an end at the end of the month, sources with direct knowledge of the development said.
It wasn’t immediately known why Dixit quit. When contacted, a company spokesperson said a statement is likely shortly.
Dixit had the shortest tenure of just over a year as the head of the firm that operates the nation’s biggest onland field in Barmer in Rajasthan.
He was acting CEO of Vedanta’s aluminum and power business before being elevated as CEO of Cairn Oil & Gas. His appointment had come after Sudhir Mathur resigned from the company.
Dixit is the fifth CEO to have quit the company since Vedanta completed the acquisition of Cairn India in December 2011.