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Cairn India Ltd has announced that Mayank Ashar, Managing Director and Chief Executive Officer, will step down from his post for personal reasons, effective June 5, 2016.
Sudhir Mathur, the current Chief Financial Officer, will take over as acting CEO after Ashar leaves the organisation.
“Ashar will provide transition support to Mathur through June 30, 2016. The board expresses its appreciation for Mayank’s contribution during his association with the company,” an official statement said.
“Mayank has had a positive stint at Cairn. He leaves Cairn India in the hands of a strong leadership team…I am sure that Sudhir and his team will continue to strongly pursue the organisation’s goal,” Navin Agarwal, Chairman of Cairn India Ltd, said in a statement.
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