Albanese to head Vedanta Resources in April

New recruit to the board of Vedanta Resources, Tom Albanese, will begin his tenure as CEO on April 1, 2014.

He is succeeding M.S. Mehta, due to retire at the end of March.

Vedanta will also recommend Albanese as Sesa Sterlite Ltd’s CEO, after Mr Mehta’s term finishes.

Albanese has been working with Vedanta since September 2013 as Chairman of the board.

New chairman and founding board member Anil Agarwal said Albanese’s skills and experience leading world class mining companies will be of great value to the Vedanta.

“Tom will lead all the businesses of our group of companies,” he said.

“We would like to thanks Mr M.S. Mehta for his leadership and we wish him the very best ahead.”

Tom Albanese said that he was honoured to be working with the board to lead Vedanta through the next phase of development.

“My focus as CEO will be on operational excellence, efficient cost management and sustainability to drive long term value for all our stakeholders,” he said.

“I also look forward to supporting Anil and the Board in implementing the strategic ambitions of the Vedanta Group.”

Albanese was the chief executive of Rio Tinto from 2007 to 2013, and is also on the board of directors of Franco Nevada Corporation, a Toronto-based gold-focused royalty and metal streaming company.

Vedanta Resources faced human tragedy in December last year, when two workers were killed in a mine shaft at the Mt Lyell copper mine in Tasmania.

Image: AFR

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