New Delhi: Global diversified natural resources company Vedanta Resources has extended the contract of its Chief Executive officer Tom Albanese by another five months until August.
"Vedanta Resources...has agreed to extend the Executive Service Agreement of its chief executive officer, Tom Albanese until 31 August 2017," the mining conglomerate said in a statement. Albanese's three year contract was due to expire on March 31, it said.
Anil Agarwal, Vedanta's Executive Chairman and the chairman of the Nominations Committee, is leading the succession process to identify candidates with appropriate global experience and a further announcement will be made in due course, it said.
Albanese has also been reappointed as whole-time Director & Chief Executive Officer of Vedanta Ltd for further period till August 31, 2017 subject to approval of shareholders in the next General Meeting. Vedanta Resources plc is a London-listed diversified global natural resources company.
The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland and Australia.
