BHP Billiton Board Appointment
BHP Billiton Chairman Jac Nasser today announced the appointment of a new Non-executive Director, Baroness Shriti Vadera, to the BHP Billiton Board, effective 1 January 2011.
Shriti Vadera brings wide-ranging expertise in finance, economics, and public policy to the BHP Billiton Board as well as extensive experience in emerging markets. She has held a number of advisory and Ministerial roles in the British Government, most recently serving as Minister for Africa and Minister for Economic Competitiveness & Enterprise.
Baroness Vadera has also held a number of international positions, including advising the Republic of Korea on its term as Chair of the G20, Temasek Holdings on strategy and the Government of Dubai on the restructuring of Dubai World. Prior to her time in the British Government, she spent 14 years in investment banking at UBS Warburg where she specialised in advisory work in emerging markets.
Chairman Jac Nasser said “Shriti Vadera’s unique combination of finance and policy experience makes her an excellent addition to the BHP Billiton Board. She is highly regarded for her work in the private sector and with governments around the world. Her expertise in global economic issues and extensive experience in Africa and Asia will be a source of invaluable insight as BHP Billiton continues to grow its global business.”
The appointment of Baroness Vadera brings the number of BHP Billiton directors to 12. The Group’s established process of continually reviewing the mix of skills and competencies of directors will continue to ensure that the Board is made up of members best able to promote shareholder interests and effectively govern the Group.
Baroness Shriti Vadera
Shriti Vadera is a former Minister for Economic Competitiveness & Enterprise and former Minister for International Development in the British Government.
Prior to her Ministerial roles Baroness Vadera spent 8 years on the Council of Economic Advisers, HM Treasury. She was responsible for advising on international financial and development policy, business and city issues, productivity, enterprise, PPPs, public enterprises and amongst other things, was responsible for the creation of the Shareholder Executive and the Better Regulation Executive.
Before joining the Council of Economic Advisers Shriti Vadera spent 14 years in investment banking at UBS Warburg, advising on banking, capital markets, project finance and corporate finance internationally. She also advised governments of developing countries on a range of issues such as debt restructuring.
Since leaving the UK Government in October 2009, Shriti Vadera has undertaken senior policy and advisory assignments for the G20 Chair, the Dubai Government in relation to the Dubai World debt restructuring, and for Temasek Holdings, Singapore.
She was a trustee of Oxfam between 2000 and 2005 and when in government worked on development and Africa policy.
Born in Uganda, Baroness Vadera’s family moved to India and then England, where she studied Philosophy, Politics & Economics at Oxford.
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