31st Dec 2013 08:40
LONDON (Alliance News) - Vedanta Resources PLC Tuesday said its Chief Executive Mahendra Mehta has agreed to extend his contract until March 31 2014.
The major natural resources company said Mehta's contract was scheduled to expire Tuesday, but the decision to extend his contract has been made whilst the company search for a successor.
The company said its search is going well and the nominations committee expects to make an announcement regarding his successor in the coming months.
Vedanta Resources shares were down 1.8% to 921.00 pence, putting them in the top ten FTSE 250 fallers in early trading Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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