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Srinivasan Venkatakrishnan appointed CEO of Vedanta Resources

Press Trust of India  |  New Delhi 

mogul Agarwal-led Resources plc today announced the appointment of as the new of the company, replacing

Venkatakrishnan, or as he is known, is currently the of Johannesburg-based AngloGold Ashanti Ltd, the world's largest emerging

Venkat, 53, will assume the new role effective August 31, the company said in a statement.

had in August last year appointed an interim chief executive, Kaura, to replace Albanese, a former of rival Rio Tinto, returned to the US after his three-year contract, which was extended by five months, expired at the end of August.

Kaura was made from September 1 but he did not serve as a on the board. He will continue in the role till joins.

would be a effective August 31, the statement said.

Since 2013, Venkat has been CEO of Between 2005 and 2013, he was AngloGold Ashanti's and prior to this, he was of London-listed Ashanti

Agarwal, of Vedanta, said, "We have gone through a very and are delighted to invite Venkat to join in the position of CEO. Venkat is a widely 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, and "

He also has a strong track record of managing a complex portfolio of operating assets and projects across Africa, he said. "He has proved his ability to deliver significant operating and financial improvements, while also ensuring important advances in sustainability."

Venkat said Vedanta has an outstanding reputation as a global, diversified resources business with world-class 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.

Kaura, who started off working for ABB India, was of Vedanta between 2005 and 2008. He has since worked as of the chairman's office at the company.

Venkat is a qualified who holds a Bachelor's degree from the

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 16 2018. 13:00 IST