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Vedanta Appointed Samir Cairae as new CEO
Vedanta Ltd, a subsidiary of Vedanta Resources, has appointed Samir Cairae as the chief executive officer of its metals business in India. Heads of aluminium, copper, power and iron ore businesses will report to the new CEO.
Cairae, who had previously worked with cement maker Lafarge and oil driller Schlumberger, will report to Vedanta Resources CEO Tom Albanese. He has been appointed as the CEO of Diversified Metals (India) and will also be a member of the Vedanta executive committee team.Vedanta said this appointment was part of the initiative undertaken by the company to acquire global talent to take the diversified metals and mining group to new heights. According to industry sources, Cairae has been brought in to look after the company's cost-cutting measures as well as asset optimisation as the metals-to-oil conglomerate braces for a tough 2016 in the commodities market, which has been adversely impacted by softening prices and subdued demand.