After leaving BYJU’s, Ajay Goel has become Vedanta Ltd.’s new CFO. Goel left Byju’s CFO position six months after joining the company.
Finance expert Ajay Goel left BYJU’s to become Vedanta Ltd.’s CFO. Goel left Vedanta this year to join BYJU’s education venture. The post was vacated by Sonal Shrivastava months after joining. Vedanta announced in a stock exchange filing that Goel will become CFO on October 30, 2023. “As part of Vedanta’s structured re-hiring programme called ‘Gharwapsi’, Mr. Ajay Goel joins back the company,” stated.
Goel left Byju’s CFO position six months after joining the ed tech.
After trading closed on October 24, Vedanta stated Shrivastava resigned as CFO “due to personal reasons”.
“Goel is a national rank holder both as a Chartered Accountant and Company Secretary and comes with rich experience in global multinational companies such as General Electric, Nestle, Coca Cola and Diageo – USL in various leadership roles,” stated.
Goel was Vedanta’s interim CFO from October 23, 2021, to April 9, 2023.
“With his leadership skills, Ajay drove corporate performance, managed financial affairs, and led the finance unit of Vedanta. Vedanta says he helped with regulatory approvals, investments, money allocation, investor relations, and big M&As.
Byju’s responds
Byju’s appointed Pradip Kanakia as senior adviser and Nitin Golani, President-Finance, as India CFO.
Vedanta last month announced a plan to split itself into six listed companies to improve valuations and attract investors.
“By demerging our business units, we believe that will unlock value and potential for faster growth in each vertical. While they all come under the larger umbrella of natural resources, each has its own market, demand and supply trends, and potential to deploy technology to raise productivity,” Agarwal, Chairman of Vedanta, had said at that time.
The six planned companies will be – Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals and Vedanta Limited.
Conclusion
Ajay Goel has been appointed as the new CFO of Vedanta Ltd, a mining conglomerate controlled by Anil Agarwal, as part of a restructuring plan. Goel, a national rank holder in Chartered Accountant and Company Secretary, has experience in global multinational companies like General Electric, Nestle, Coca Cola, and Diageo – USL. He was previously associated with Vedanta as acting CFO between October 23, 2021, and April 9, 2023. Vedanta has also made new appointments in its finance function, with Pradip Kanakia as senior adviser and Nitin Golani as India CFO. The company plans to split into six listed companies to improve valuations and attract investors. Goel quit as Byju’s CFO just six months after joining the ed tech startup.
