In a follow-up letter dated July 21, 2023, Vedanta Limited announced additional decisions reached by the Board of Directors during their meeting that same day. First, the Board noted that Mr. Sunil Duggal, the Whole-Time Director & CEO, will retire on July 31, 2023, and it thanked him for his services during the course of his employment.
Second, the Board authorized the appointment of Mr. Arun Misra (DIN: 01835605) as an Additional Director and Executive Director of the Company, effective from August 1, 2023, until May 31, 2025, on the suggestion of the Nomination and Remuneration Committee. The shareholders must, however, approve this nomination.
Mr. Arun Misra has been in charge of Hindustan Zinc Limited (HZL), a division of Vedanta Limited, and is now the Chief Executive Officer (CEO) of the Zinc Business. Prior to August 2020, he served as CEO & Whole-Time Director of HZL after being promoted from Deputy CEO in November 2019 to that position. Since June 2022, Mr. Misra has also been in charge of Vedanta Zinc International’s development and operations in South Africa. Among his accomplishments are his roles as vice president of the Indian Institute of Mineral Engineers and the first-ever Indian chair of the International Zinc Association. Awards for Mr. Misra’s leadership, such as the “CEO of the Year” award, have been given, and under his direction, HZL has maintained its prominent position in corporate responsibility evaluations within the mining and metals industries.
Mr. Arun Misra studied extra degrees in Mining and Beneficiation from the University of New South Wales Sydney and General Management from CEDEP, France after earning his Bachelor of Science in Electrical Engineering from IIT, Kharagpur. He is well-versed in several quality management methodologies, including TQM, Six Sigma, TPM, and the Malcolm Baldridge Model.
With Tata Steel, Mr. Misra started his career. Over the course of his 35 years of expertise, he has held a number of critical roles. In his final position at Tata Steel, he was Vice President in charge of the division’s vital Plant Operations, Mining Operations, Safety, and Project Management portfolios.
According to the criteria given by the Companies Act of 2013, he is not linked to any Director of the Company who is now serving. According to SEBI laws, Mr. Misra has not been prohibited by any regulatory body from holding a director’s office.