The following release was issued today by Sesa Sterlite Limited's subsidiary Cairn India Limited.
Cairn India Limited Organisation Announcement
GOA, India--(BUSINESS WIRE)-- Cairn India Limited (CIL), one of the 20-largest independent oil exploration and production companies in the world, today announces the appointment of Mr. Mike Yeager, former CEO of the global petroleum business at BHP Billiton as Chairman, Operations Review Board at Cairn India Ltd.
Mike will work closely with the Cairn management team to deploy the best global technology and practices to unlock the full potential of the world class Rajasthan block and other existing assets and steer their efficient development
Mike brings in more than 38 years of rich & diverse experience in reputed organisations like Exxon Mobil, BHP Billiton and the United States Marine Corps. In his last assignment, he was the CEO of the Petroleum business at BHP Billiton, which he joined after a 25 year stint with Exxon Mobil.
Mr. P. Elango, Whole Time Director, Cairn India said:
“I am excited with Mike Yeager joining us as Chairman, Operations Review Board at Cairn India Limited. Mike's leadership and guidance will further enhance the quality of overall strategic and operational planning for optimal business results. His rich global experience will help Cairn to build a stronger E&P portfolio and attract top global talent.
Cairn India has recently been voted as the fastest growing energy company for 2013 by Platt’s. This is not only a testimony to the world-class asset base that Cairn has created but also to its employees who have consistently delivered superior results. Mike’s on-boarding will enhance the global outlook, strategic and operational leadership capacity at Cairn and prepare it for pursuing and fulfilling its aggressive growth agenda."
Mike graduated from the US Naval Academy and went on to complete his Masters of Science from University of Southern California. Mike is currently Executive Chairman and Chief Executive Officer of Maverick Drilling and Exploration, headquartered in Houston, Texas
About Sesa Sterlite Limited
Sesa Sterlite Limited (“Sesa Sterlite”) is one of the world’s largest diversified natural resource companies. Our business primarily involves exploring, extracting and processing minerals and oil & gas. We produce zinc, lead, silver, copper, aluminium, iron ore, oil & gas 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 FTSE 100 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.
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.
Sesa Sterlite Limited
Ashwin Bajaj, +91 22 6646 1531
Senior Vice President – Investor Relations
Source: Sesa Sterlite Limited