Chris Griffith, the CEO of Vedanta Resources’ base metals division and President of its international business, has resigned amid mounting pressure from a short-seller report and Vedanta’s ongoing debt challenges. The company, headquartered in India and led by billionaire Anil Agarwal, owns major assets in South Africa and Namibia and has faced investor concerns over its complex structure and high leverage.
Vedanta Resources Ltd., the India-based global mining conglomerate led by billionaire Anil Agarwal, is undergoing a key leadership change as Chris Griffith, Chief Executive Officer of its base metals division and President of the group’s international business, has resigned. The development comes at a time when the company is facing heightened financial scrutiny.
Headquartered in Mumbai, Maharashtra, Vedanta Resources is a diversified natural resources company with operations in India, Africa, and Australia. The firm is known for its holdings in zinc, oil & gas, iron ore, copper, and aluminum, with major subsidiaries including Vedanta Ltd. and stakes in Hindustan Zinc Ltd..
Griffith’s exit—confirmed by individuals close to the matter—follows the release of a short-seller report by Viceroy Research, which claimed to be shorting Vedanta Resources’ debt and described the group’s structure as an “under-appreciated risk to creditors.” The report has added pressure to already existing concerns about Vedanta’s debt pile, which has been accumulated through acquisitions such as Bharat Aluminium Co. and Hindustan Zinc Ltd.
Vedanta responded in a statement, calling the report “a malicious combination of selective misinformation and baseless allegations.” The firm said it had not been contacted by the short-seller and emphasized that it remains committed to its business and growth strategy, urging stakeholders to avoid speculation.
Griffith, who joined Vedanta in 2023, was previously the CEO of Gold Fields Ltd. and had led Anglo American’s platinum and iron ore divisions. He left Gold Fields after a failed attempt to acquire Yamana Gold Inc., a Canadian gold producer.
While Vedanta’s shares remained steady early Thursday, they had dropped by 3.4% the day prior, reflecting investor concerns. The company has not yet announced a successor for Griffith.
The resignation marks a critical juncture for Vedanta, which is already navigating complex restructuring, high leverage, and now, executive uncertainty at the top level of its international operations.
