20th Oct 2015 11:29
LONDON (Alliance News) - Vedanta Resources PLC Tuesday dismissed media speculation that Chief Executive Tom Albanese is leaving the company.
Reports emerged in India, where it has mining, oil and power projects, on Tuesday that suggested Albanese was set to leave the company.
"Vedanta strongly denies this speculation which is completely baseless and would like to state that Tom Albanese will continue to drive the Vedanta business and serve as the group chief executive officer. Cynthia Carroll, who joined the group in September 2015, will advise the chairman's office on matters of strategic importance to the company," said the company in response.
Carroll is the chair of Vedanta Resources Holdings Ltd, and was given the task of advising Chairman Anil Agarwal's office focused on its long term strategy. She is the former chief executive of Anglo American PLC and currently sits on the board of oil major BP PLC.
Vedanta shares were down 6.1% to 509.0 pence per share on Tuesday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
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