Vedanta Group-owned zinc, lead, silver and cadmium miner Hindustan Zinc Ltd. (HZL) has approved appointment of Sunil Duggal as its next chief executive, and designated current CEO Akhilesh Joshi as president of the Vedanta Group's global zinc business, the company said on Friday.
"In a significant change in HZL, Duggal, the current deputy CEO will take over as CEO and whole-time director of HZL with effect from October 1, 2015, and the current CEO Joshi will take over as President Global Zinc Business," an HZL statement said here.
The decision was taken at HZL's board meeting held on Friday.
Commenting on his elevation, Duggal said: "My immediate focus would be on smooth transition to underground mines, next phase of expansions and growth, and to increase mined metal production to 1.2 million tonnes per annum."
HZL has reported an increase of 19 percent in its net profit for the first quarter of the current fiscal. The company's net profit during the quarter, ended June 30, stood at Rs.1,921 crore -- up from Rs.1,618 crore in the corresponding period of last fiscal.