Disinvestment of Hindustan Zinc Limited
Hindustan Zinc Limited was incorporated from the erstwhile Metal Corporation of India in January 1966 as a Public Sector Undertaking (PSU). During the disinvestment era in 2001, HZL was acquired by Sterlite Industries Limited, now known as Vedanta PLC.
The new management assumed control in April 2002 and began identifying top talent based on their own assessments, inputs, and performance appraisals from previous years. Among many senior candidates, Sanjay underwent the selection process and was chosen to lead as HR cum Factory Manager at the Lead Zinc Smelter in Visakhapatnam (Andhra Pradesh).
With nearly 18 years of experience in the PSU, this new role presented Sanjay with both a significant challenge and opportunity to bridge the gap between PSU and private sector cultures. Sanjay successfully justified his role by implementing numerous changes at the Visakhapatnam smelting plant. His key responsibilities included outsourcing non-core activities, reskilling and redeploying employees into core functions, right sizing the workforce, and fostering a cultural shift to align with the new management style.
Sanjay relished the freedom to innovate and experiment, cherishing the opportunity to drive cultural change and enhance productivity. Today, HZL’s growth and success, rewarding all stakeholders, is well-recognized. Contact us for more stories of both success and lessons learned in similar transformations.