Sonal Shrivastava is a role model for women in business, and she is an inspiration to all who know her.
Vedanta’s decision to appoint Sonal Shrivastava as its new CFO underscores the company’s commitment to strong financial leadership. With her vast experience and proven track record, Shrivastava is expected to guide Vedanta’s financial strategy, align it with the company’s overall objectives, and ensure its continued growth and success in the coming years.
Sonal Shrivastava: A Trailblazing CFO
Sonal Shrivastava is a trailblazer in the corporate world. She is a role model for women in business, and she is an inspiration to all who know her. Shrivastava is a successful CFO, a strong advocate for diversity and inclusion, and a thought leader on issues related to finance and sustainability. She is a force for good in the world, and she is an inspiration to all who look up to her.
Sonal Shrivastava is a role model for women in business, and she is an inspiration to all who know her.
Role and Responsibilities at Vedanta
Multinational mining company Vedanta announced the appointment of Sonal Shrivastava as its Chief Financial Officer (CFO) with effect from June 1, 2023. At her Vedanta stint, she will head the mining major’s financial strategy. She will also be responsible for accounting, tax, treasury, investor relations, financial planning and analytics while driving digitalization and profitability.
Holcim Group Tenure and Responsibilities
Sonal Shrivastava’s financial acumen was honed during her time with the Holcim Group, a leading global provider of construction solutions. She started her journey with the company in 2002, and through her tenure, she held the critical position of CFO for the Asia Pacific, Middle East, and Africa regions.
While serving in this capacity, Shrivastava was responsible for managing financial operations and driving strategic planning across multiple geographies. Her role in overseeing financial functions included risk management, budgeting, forecasting, and capital structure decision-making.
Broad-based Experience and Education
With a career spanning over 26 years, Shrivastava brings to Vedanta a wealth of financial leadership experience from diverse sectors. Her academic background in chemical engineering from BIT, Sindri, and a master’s degree in business administration from the prestigious Jamnalal Bajaj Institute of Management Studies, has equipped her with a unique blend of technical and business acumen.
Her professional experience includes roles related to mergers and acquisitions, strategy and business development, audit, finance, and supply chain management. This diversified exposure will undoubtedly prove beneficial in her new role as CFO at Vedanta.
Previous Roles in the Mining and Energy Sectors
Before her time at the Holcim Group, Sonal Shrivastava had a stint as CFO of Ambuja Cements Ltd. Additionally, she has held key roles in leading companies in the mining and energy sectors. This sector-specific experience is set to be particularly valuable for Vedanta, a global diversified natural resources major with interests across zinc, oil & gas, iron ore, copper, aluminium and commercial power.
Transition at Vedanta
The appointment of Sonal Shrivastava comes on the heels of the resignation of Vedanta’s acting CFO, Ajay Goel. After serving Vedanta in an interim capacity, Goel stepped down from his role on April 9. Interestingly, Goel’s career trajectory has taken a turn towards the education sector, as he was announced as the new CFO of the edtech startup BYJU’s.
Education and Professional Experience
Sonal Shrivastava has a bachelor’s degree in chemical engineering from BIT, Sindri and an MBA from the Jamnalal Bajaj Institute of Management Studies. She started her career with Hindustan Unilever Ltd in 1997 as a management trainee and rose to become the finance controller for the home and personal care business. She then moved to Bharti Airtel Ltd in 2007 as the head of finance for the mobile business. In 2010, she joined Lafarge India Pvt Ltd, a subsidiary of Holcim Group, as the CFO and later became the regional CFO for India and South Asia. In 2018, she was appointed as the regional CFO for Asia Pacific, Middle East and Africa at Holcim Group.
Expertise
Sonal Shrivastava has been instrumental in driving growth, profitability, cash flow management, mergers and acquisitions, capital restructuring, risk management and governance in her previous roles. She has also led several digital transformation initiatives and fostered a culture of innovation and collaboration among her teams.
Vedanta Plans debt reduction and operational efficiency
Sonal Shrivastava’s appointment comes at a time when Vedanta is eyeing debt reduction and operational efficiency amid volatile market conditions. The company reported a consolidated net profit of Rs 6,432 crore for the fourth quarter ended March 31, 2023, up 276 per cent year-on-year. Its consolidated revenue rose 43 per cent year-on-year to Rs 32,699 crore. Its consolidated EBITDA stood at Rs 9,362 crore, with an EBITDA margin of 29 per cent.
Anil Agarwal Welcomes Sonal Shrivastava
Vedanta chairman Anil Agarwal welcomed Sonal Shrivastava to the company and said: “Her global experience and successful track record of delivering robust financial outcomes across sectors makes her a valuable addition. We are confident that she will play a vital role in the company’s future years.”
Shrivastava expresses her excitement
Sonal Shrivastava expressed her excitement to join Vedanta and said: “I look forward to contributing to the company’s success by leveraging strategic & financial initiatives and working collaboratively to develop and implement strategies that accelerate performance and enhance value for all stakeholders.”
Mother of 2 Children
Sonal Shrivastava is one of the few women CFOs in India’s corporate sector. She is also an avid reader, a fitness enthusiast and a mother of two children. She is a force for good in the world, and she is an inspiration to all who look up to her.
(India CSR Research)
