Cairn India managing director and CEO of six years Rahul Dhir has quit the company.
Dhir,who was the face of Cairn India after the firms British promoters listed it on the BSE to make the company more local,quit in less than eight months of London-based mining group Vedanta taking over the firm. With Dhir,the entire top management of Cairn India has quit the firm since Anil Agarwal-owned Vedanta acquired majority stake in the firm from Cairn Energy Plc of the UK.
The board of Cairn India announces that Dhir has decided to step down as MD and CEO of the company effective August 31,2012,to pursue his entrepreneurial interests, the company said in a statement.
The search for Dhirs successor is underway and an announcement is expected soon. During this intervening period,the Board has appointed P Elango,director Strategy and Business Services and a member of Cairn Indias executive committee,as the interim CEO, it said. Dhir took over as the CEO in March 2006 and spearheaded its listing on local bourses in January 2007.