Vedanta appoints interim CEO Kuldip Kaura to replace Tom Albanese

Process to identify Vedanta's new CEO is ongoing, says company

Anil Agarwal-led Vedanta today announced the appointment of Kuldip Kaura as interim Chief Executive Officer (CEO), effective September 1, 2017.

His predecessor
Tom Albanese stepped down from the board on August 31, 2017.

The process to identify Vedanta's new CEO is ongoing, the company said in a release. Kaura has extensive knowledge and experience of Vedanta's operations, having held various senior management and leadership roles with the group for over 15 years, it said.

"I look forward to working with the Chairman, the Board and the excellent management team at Vedanta. I have every confidence that we will maintain the business' current momentum and continue to deliver on our strategy focused on production growth, cash generation and deleveraging," the release quoted Kuldip Kaura as saying.

Meanwhile, Navin Agarwal, chairman at Vedanta, thanked Albanese for his contribution to the business: "On behalf of the board and my colleagues at Vedanta, I thank Tom for his significant contribution to the business and wish him all the best for his future endeavours. Kuldip has the full support of the Board and the management team and I am certain that he will ensure a smooth transition as we identify a permanent CEO."