Vedanta Resources says ex-Rio Tinto boss to be CEO
published : 6 Mar 2014 at 17:49
India-focused miner Vedanta Resources on Thursday said Tom Albanese, former head of mining giant Rio Tinto, would become the group's CEO from April.
Tom Albanese, pictured during a photocall in central London, on August 4, 2011
Albanese became chairman of Vedanta's holding company last September after stepping down as chief executive of Rio Tinto at the start of 2013 following the Anglo-Australian miner's first annual loss in 18 years.
London-listed Vedanta Resources traces its origins back to India, where tribal leaders last year rejected plans by the company to mine bauxite, or aluminium ore, in the country's east.
"The board of Vedanta Resources plc is pleased to announce that Mr Tom Albanese will take over as the chief executive officer of Vedanta and join the Vedanta board with effect from 1 April 2014," said a statement on Thursday.
"He succeeds Mr M.S. Mehta, who is retiring at the end of March."
Albanese said his "focus as CEO will be on operational excellence, efficient cost management and sustainability to drive long term value for all our stakeholders".