Sesa Sterlite Limited: Appointment of CEO and Changes to the Board

      Sesa Sterlite Limited: Appointment of CEO and Changes to the Board

  PR Newswire

  MUMBAI, March 31, 2014

MUMBAI, March 31, 2014 /PRNewswire/ --

The merger of Sterlite Industries (India) Limited and Sesa Goa Limited, and
the Group consolidation was completed in August 2013, creating Sesa Sterlite
Limited ("Sesa Sterlite"), India's premier and one of the world's largest
diversified natural resources companies. Sesa Sterlite is pleased to announce
the reconstitution of its Board as follows.

 (Logo: http://photos.prnewswire.com/prnh/20140117/663814 )

Mr. Tom Albanese is appointed the Chief Executive Officer and member of the
Board from1 April 2014. He was appointed Chief Executive Officer of Vedanta
Resources Plc, the parent company of Sesa Sterlite, on 6 March 2014. He
succeeds Mr. M.S. Mehta, who retires as Chief Executive Officer and Board
member on 31 March 2014.

Mr. Navin Agarwal, currently Executive Vice Chairman, is appointed the
Chairman of the Board. Mr. Anil Agarwal, Non Executive Chairman, will now be
the Chairman Emeritus of Sesa Sterlite, and will continue to provide his
vision to the Group, and play the role of chief mentor. These appointments are
effective 1 April 2014.

Ms. Lalita Gupte and Mr. Naresh Chandra will join the Board as independent Non
Executive Directors, while Mr. Kuldip Kaura steps down. These changes take
place with immediate effect.

Mr. Tarun Jain and Mr. D.D. Jalan will join the Board as Wholetime Directors,
and Mr. P.K. Mukherjee, Executive Director-Iron Ore steps down. These changes
are effective 1 April 2014.

Commenting on these appointments, Mr. Anil Agarwal, Chairman, said: " Sesa
Sterlite is one of the world ' s largest diversified natural resources
companies and the Indian flagship of the Vedanta Group. With these
appointments, we believe Sesa Sterlite has a well-rounded Board, with members
bringing a wealth of experience and diverse expertise covering strategy and
operations for global businesses; international capital markets; public
policy, law and corporate governance. I am certain that this will be
invaluable as we continue to execute our strategy to deliver long term value
for all stakeholders.

I would like to acknowledge and express our appreciation for Mr. Kuldip Kaura
for his invaluable contributions, and Mr. M.S. Mehta and Mr. P.K. Mukherjee
for their unparalleled leadership of the businesses over the years. We wish
them well for the future." 

Notes to Editors 

Following the reconstitution, the new Board of Sesa Sterlite will be as
follows:

  *Mr. Navin Agarwal - Executive Chairman
  *Mr. Naresh Chandra - Independent Non Executive Director
  *Ms. Lalita Gupte - Independent Non Executive Director
  *Mr. Ravi Kant - Independent Non Executive Director
  *Mr. Gurudas Kamat - Independent Non Executive Director
  *Mr. Tom Albanese - Chief Executive Officer
  *Mr. Tarun Jain - Wholetime Director
  *Mr. D.D. Jalan -Wholetime Director and Chief Financial Officer

Mr. Naresh Chandra 

Independent Non Executive Director 

Mr. Naresh Chandra has served as India's Ambassador to the USA and Cabinet
Secretary to the Government of India. Mr. Chandra is a post graduate (MSc. in
Mathematics) from Allahabad University and a retired IAS officer. Mr. Chandra
has held various senior positions such as Chairman of the Indian Government
Committee on Corporate Governance, Senior Advisor to the Prime Minister,
Governor of Rajasthan, and Chief Secretary to the Government of Rajasthan. A
reputed administrator and diplomat, Mr. Chandra serves as an Independent
Director on the Boards of a number of companies.

Ms. Lalita Gupte 

Independent Non Executive Director 

Ms. Lalita D. Gupte is the former Joint Managing Director of ICICI Bank, and
currently Chairperson of ICICI Venture Funds Management Company Limited. Mrs
Lalita D. Gupte joined the Board of ICICI Ltd in 1994 as Executive Director
and remained on the Board including as Joint Managing Director till 2002 when
it merged with ICICI Bank. She was the Joint Managing Director of ICICI Bank
from 2002 - 2006. Ms. Gupte has more than three decades of experience in the
financial sector and has held various leadership positions in areas of
Leasing, Planning & Resources and Corporate Banking. She serves on the Boards
of many large corporates like Alstom SA in France, Godrej Properties, and
Kirloskar Brothers. Ms. Gupte holds a Bachelor's Degree in Economics and a
Master's degree in Business Management. She did her advanced management
programme from INSEAD.

Mr. Ravi Kant 

Independent Non Executive Director 

Mr. Ravi Kant is the former Managing Director of Tata Motors Ltd., and is
currently its Vice Chairman. He joined Tata Motors in 1999, and has been
associated with Jaguar & Land Rover, Tata Daewoo Commercial Vehicles, Korea
and Tata Motors, Thailand. Prior to joining Tata Motors Ltd., Mr. Ravi Kant
was Director, Phillips India Limited looking after Consumer Electronics. He is
the Chairman of TAL Manufacturing Solutions Ltd. and Tata Advanced Materials
Ltd. and is on the Board of Tata Industries. He is the Chairman of the Indian
Institute of Management, Rohtak and is on the Governing Board of National
Institute of Design, Ahmedabad. He is on the Board of CGIO, Singapore. He is a
member of the International Business Leadership Forum, London. Mr. Ravi Kant
had his education at Mayo College, Ajmer; Indian Institute of Technology,
Kharagpur and Aston University, Birmingham, UK from where he did his Masters
in Management in Industry. He was conferred with an Honorary D.Sc. by the
Aston University, in Birmingham in July 2008. He is an Honorary Industrial
Professor at the University of Warwick, UK.

Mr. Gurudas Kamat 

Independent Non Executive Director 

Mr. Gurudas D. Kamat is the retired Chief Justice of the Gujarat High Court.
Mr. Kamat was appointed as Director of Sesa Sterlite (earlier Sesa Goa
Limited) on 22nd December 2005. He has over 45 years of experience in the
field of legal practice and judiciary, having practiced in Bombay as well as
in Goa in various branches of law. Mr. Kamat was prosecutor for the Government
of Goa from 1967 to 1969. From 1980 onwards, Mr. Kamat was an advocate for the
Customs and Central Excise Departments of the Government of India. Mr. Kamat
was a member of the senate and faculty of law of Bombay University from 1978
to 1980. He is currently enagaged in judicial work relating to arbitration and
conciliation.

Mr. Tom Albanese 

Chief Executive Officer 

Mr. Tom Albanese was formerly the Chief Executive of Rio Tinto from May 2007
to January 2013. Rio Tinto is the second largest global diversified mining
company. He was appointed a member of the Rio Tinto Board in March 2006. Tom
joined Rio Tinto in 1993 when the company acquired Nerco, where Tom was Chief
Operating Officer. After joining Rio Tinto, he held a series of management
positions before being appointed Chief Executive of the Industrial Minerals
group in 2000, after which he became Chief Executive of the Copper group and
head of Exploration in 2004. In July 2006 Tom was appointed Director, Group
Resources. Tom is also on the Board of Directors of Franco Nevada Corporation
which he joined in August 2013, a Toronto-based gold-focused royalty and metal
streaming company with assets around the world. In 2009, Tom joined the Board
of Visitors for the Fuqua School of Business at Duke University in North
Carolina. Tom holds a Bachelor's degree in Mineral Economics and a Master's in
Mining Engineering from the University of Alaska.

About Sesa Sterlite Limited 

Sesa Sterlite Limited ("Sesa Sterlite") is one of the world's largest
diversified natural resources companies. Our business primarily involves
exploring, extracting and processing minerals and oil & gas. We produce oil &
gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and
have a presence across India, South Africa, Namibia, Ireland, Australia,
Liberia and Sri Lanka. Sesa Sterlite has a strong position in emerging markets
with over 80% of its revenues from India, China, East Asia, Africa and the
Middle East.

Sustainability is at the core of Sesa Sterlite's strategy, with a strong focus
on health, safety and environment and on enhancing the lives of local
communities. Sesa Sterlite is a subsidiary of Vedanta Resources plc, a
London-listed company. Sesa Sterlite is listed on the Bombay Stock Exchange
and the National Stock Exchange in India and has ADRs listed on the New York
Stock Exchange.

Registered Address: Sesa Sterlite Limited, Sesa Ghor, 20 EDC Complex, Patto,
Panjim, Goa - India - 403 001 

Disclaimer 

This press release contains "forward-looking statements" - that is, statements
related to future, not past, events. In this context, forward-looking
statements often address our expected future business and financial
performance, and often contain words such as "expects," "anticipates,"
"intends," "plans," "believes," "seeks," "should" or "will." Forward-looking
statements by their nature address matters that are, to different degrees,
uncertain. For us, uncertainties arise from the behaviour of financial and
metals markets including the London Metal Exchange, fluctuations in interest
and or exchange rates and metal prices; from future integration of acquired
businesses; and from numerous other matters of national, regional and global
scale, including those of a political, economic, business, competitive or
regulatory nature. These uncertainties may cause our actual future results to
be materially different that those expressed in our forward-looking
statements. We do not undertake to update our forward-looking statements.

For further information, please contact: Ashwin Bajaj, Senior Vice President –
Investor Relations, Tel: +91-22-6646-1531, sesasterlite.ir@vedanta.co.in
 
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