Vedanta appoints K Venkataramanan on its board

Metals and mining conglomerate Vedanta Ltd today announced the appointment of K Venkataramanan as an independent non-executive director with effect from April 1.
The company's board has also considered and approved re-appointment of Thomas Albanese, Whole-Time Director and CEO, till August 31, 2017 subject to approval of shareholders in the next general meeting.
"The board of directors in their meeting on March 30, 2017 approved the appointment of K Venkataramanan as an Independent non-executive director with effect from April 1, 2017," Vedanta Ltd said in a statement.
Venkataramanan was CEO & Managing Director of Larsen & Toubro Ltd from April, 2012 and had also served on the L&T Board from May, 1999 until his retirement in September, 2015," the statement said.

"I am delighted to welcome KV to our Board. His unparalleled strength and global experience in our sector will support our delivery of the next phase of growth at Vedanta, and I look forward to his significant contributions to the board," company's Chairman Navin Agarwal said.
"I am excited to be joining the Board of Vedanta Ltd, a company which has excelled in the Indian natural resources sector. It will be my endeavour to effectively participate in Vedanta's journey of achieving excellence in the sector," Venkataramanan said.

Venkataramanan, in his four decades of experience at L&T, has spearheaded the company's foray in the world of E&C, strengthened every aspect of EPC value chain and transformed L&T to one of the respected names in the global EPC fraternity.

His induction will help broaden the diversity of the Vedanta board, and add considerable expertise particularly in the areas of hydrocarbons and large scale project management.
Vedanta Ltd is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc-lead-silver, copper, iron ore, aluminium and commercial power. The company has a presence across India, South Africa, Namibia, Australia and Ireland.
The board has approved appointment of "K Venkataramanan as an Additional Director and Non-Executive Independent Director (Additional Director) on the Board of the Company for a period of 3 years w.E.F. April 1, 2017 to hold office till the ensuing Annual General Meeting of the company," it said.

The board also approved resignation of Anuradha Dutt, Non-Executive Independent Director from the Board of the Company w.E.F. March 31, 2017 due to other commitments.