6th Mar 2014 08:16
LONDON (Alliance News) - Vedanta Resources PLC said Thursday it has hired Tom Albanese as Chief Executive Officer.
Albanese will join Vedanta's board upon his appointment, which will take effect April 1, 2014.
He takes over from outgoing CEO, M.S. Mehta, who is retiring at the end of March.
The diversified global natural resources firm said it also intends to recommend to the Sesa Sterlite Ltd. board, the appointment of Albanese as its Chief Executive Officer, after the end of Mehta's term on March 31, 2014.
Sesa Sterlite is a Vedanta Group firm which focuses on global diversified natural resource majors, with operations across zinc-lead-silver, oil and gas, iron ore, copper, aluminium and commercial power.
Albanese has been working with Vedanta since September 2013, serving as Chairman of Vedanta Resources Holdings.
Shares in the firm were trading up 3.44% at 887.00 pence per share Thursday morning, the second highest gainer on the FTSE 250.
By Alice Attwood; [email protected]; @AliceAtAlliance
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