Vedanta makes grand moves
AngloGold CEO’s job move gets market antennae twitching
It came as no surprise to the market when AngloGold and Vedanta announced this week that Srinivasan Venkatakrishnan would take the helm at Vedanta. But it added to the mystery of Indian billionaire Anil Agarwal's intentions in relation to Anglo American. The mining mogul, who last year secured a 21% stake in Anglo American through his family trust Volcan Investments, has been playing his cards close to his chest, maintaining that he invested in Anglo purely because he likes the portfolio. Appointing Venkatakrishnan CEO of Vedanta Resources, the holding company of his business interests, is considered a smart move for Vedanta and a loss for AngloGold Ashanti. Vedanta has been investing in a number of global mining experts, some of whom have a close relationship with Anglo American or previously worked there.These include former Anglo American CEO Cynthia Carroll and Deshnee Naidoo, who worked at Anglo American's coal business before she moved into the CEO position at Vedanta Zinc Int...
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