Tom Albanese will take over as the CEO of Vedanta Resources and join the Vedanta Board with effect from April 2014. He succeeds M.S. Mehta, who is retiring at the end of March 2014. Vedanta also intends to recommend the appointment of Albanese as Sesa Sterlite CEO, after the end of Mehta’s term in March 2014 to the Sesa Sterlite board. Albanese has been working with Vedanta since September 2013 as the Chairman of Vedanta Resources Holdings.
Anil Agarwal, chairman of Vedanta, said, “Tom Albanese’s skills and experience in leading world-class mining companies will be of great value in supporting our strategic objective of creating sustainable long- term value for all our stakeholders. Tom will lead all the businesses of our Group companies. We would like to thank Mr M.S. Mehta for his leadership and we wish him all the very best ahead.”
Tom Albanese said, “Vedanta is a world-class business and I’m honoured to be working with Anil and the Board as we lead Vedanta in the next phase of its development. My focus as CEO will be on operational excellence, efficient cost management and sustainability to drive long-term value for all our stakeholders.”
