Vedanta Resources PLC
25 November 2004
25th November 2004
Vedanta Resources announces new board appointments
Vedanta Resources plc ('Vedanta'), the London listed diversified metals and
mining group, announces that it has made three new appointments to the board.
Aman Mehta (58) and Dr. Shailandra Tamotia (64) become Non-executive Directors.
Navin Agarwal (42) becomes an Executive Director and Deputy Chief Executive
Aman Mehta has had a career in banking spanning over 30 years with HSBC and
retired as Chief Executive of the Hongkong Bank in December 2003. He is an
independent non-executive director of several companies in India and overseas,
including PCCW Limited (Hong Kong), Raffles Holdings Limited (Singapore), Tata
Consultancy Services Limited, Jet Airways Pvt Limited and Wockhardt Limited
(India). He will join the Audit Committee of Vedanta, taking over the
Chairmanship of this Committee from Michael Fowle.
Dr. Tamotia has over 40 years of experience in the Indian steel and aluminium
industries. Most recently he was President and CEO of the Indian Aluminium
Company Limited, part of the Aditya Birla Group, which he joined in 1997 and
where he led some of the largest capital expansion projects in the industry. For
the previous 13 years he worked at Nalco, the public sector Indian aluminium
company, and he also has experience of the Indian iron and steel industries. Dr.
Tamotia becomes Chairman of the Health, Safety and Environment Committee.
Navin Agarwal is Executive Vice Chairman of Sterlite, a Director of BALCO and
HZL. Mr. Agarwal has overseen the Group's operations in India for many years. He
has over 19 years of experience of general management and commercial matters,
having been involved in Sterlite since its inception.
Naresh Chandra becomes Chairman of the Remuneration Committee and Senior
Independent Director. These changes bring the composition of the Board and its
Committees into compliance with the Combined Code.
Michael Fowle, Chairman of Vedanta commented,
'I am very pleased to be welcoming three directors onto the board of Vedanta
whose varied experience and expertise will strengthen our Company considerably.
Mr. Navin Agarwal has been one of the driving forces in the creation of
Vedanta's business whilst the great expertise of Mr. Mehta in banking and of Dr.
Shailandra Tamotia in the metals industry strengthens the non -executive
representation of the board and its breadth of experience.'
For further information, please contact:
John Smelt, Head of Investor Relations Tel: +44 20 7499 5900
Vedanta Resources plc +44 787 964 2675
James Murgatroyd Tel: +44 20 7251 3801
This information is provided by RNS
The company news service from the London Stock Exchange