Former Rio Tinto CEO Tom Albanese joins rival Vedanta

Indian mining group Vedanta (LON:VED) announced Monday it has appointed former Rio Tinto’s (LON:RIO) chief executive, Tom Albanese, as chairman of its subsidiary Vedanta Resources Holdings Ltd.

The news comes only nine months after Albanese was removed as CEO of the second-biggest miner and left the group with a $14billion charge.

So far he is the only one of the long list of CEOs ousted in 2012 and early this year who has returned to a full-time role at a major mining company.

The New Jersey-born engineer will be actively involved in developing the company's strategy, policies and growth objectives, Vedanta said in a statement.