Vedanta's Cairn Oil & Gas on Thursday announced the appointment of Nick Walker as the new chief executive officer (CEO) of the company. In a statement, the company said the appointment is effective January 5. "Before this appointment, Walker was president and chief executive officer at Lundin Energy, one of the leading European independent E&P companies," it said.
The company management remained tight-lipped about the resignations, but indicated there was nothing unusual in these movements.
Cairn India CEO has a tough task at hand.
Cairn has slashed its planned capital expenditure (capex) by 60 per cent to $500 million against the earlier $1.2 billion.
The old guard is still involved in broad corporate decision-making, but quite a few new business heads have started making their mark at the group
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Mayank Ashar talks about India's business environment.
Mayank Ashar, managing director and chief executive officer, Cair India, says the reform momentum should continue and the industry should do its part too.
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