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Construction : Web Exclusive | April 2018 | Source : Equipment India

Vedanta Resources appoints new CEO

Vedanta Resources plc (Vedanta) has announced the appointment of Srinivasan Venkatakrishnan (Venkat) as Chief Executive Officer (CEO) and a member of the Board of Directors, effective August 31, 2018. He succeeds Kuldip Kaura, the current Interim CEO.

Since 2013, Venkat has been CEO of AngloGold Ashanti, the world’s largest emerging market gold producer. Between 2005 and 2013, he was AngloGold Ashanti’s Chief Financial Officer and prior to this, he was CFO of London-listed Ashanti Goldfields.

Anil Agarwal, Chairman of Vedanta, said, “We have gone through a thorough search process and are delighted to invite Venkat to join Vedanta in the position of CEO. Venkat is a widely respected business leader in the global resources space, who brings to Vedanta an impressive set of values and a wealth of experience in corporate and other roles in the UK, Africa, Australia, South America and India. He also has a strong track record of managing a complex portfolio of operating assets and projects across Africa. He has proved his ability to deliver significant operating and financial improvements, while also ensuring important advances in sustainability. The team at Vedanta and I are very much looking forward to working with him. We are grateful to Kuldip Kaura for his support during the interim period; he will continue as interim CEO until Venkat joins.”

Venkat said, “Vedanta has an outstanding reputation as a global, diversified resources business with world-class assets and an exceptional team. I am honoured to be working with the Chairman, Anil Agarwal, and the Board in leading the next phase of the Group’s development. My initial focus will be to ensure continued operational excellence, efficient cost management and capital discipline across the portfolio, while continuing to drive improvements to the overall sustainability performance of the business, thereby creating long-term value for all stakeholders.”
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