Venkatakrishnan named Vedanta CEO

UK-listed natural resources major Vedanta on Monday announced the appointment of Srinivasan Venkatakrishnan as its new chief executive in place of the interim incumbent Kuldip Kaura.

Vedanta Resources plc said in a statement that Venkatakrishnan, or Venkat as he is known, will take over as CEO as well as assume his membership in the board of directors on August 31.

"Since 2013, Venkat, 53, has been CEO of AngloGold Ashanti Ltd, 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 Ltd," it said.

Vedanta Chairman Anil Agarwal said in a statement: "We have gone through a very thorough search process and are delighted to invite Venkat to join Vedanta in the position of CEO. Venkat 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."

Venkat said that Vedanta has an outstanding reputation as a global, diversified resources business with impressive assets and an exceptional team.

"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," he said.

Venkat is a qualified Chartered Accountant who holds a Bachelor's degree from the University of Madras.

--IANS

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