South32 open to more portfolio changes, says new chair

SOUTH32 chair Karen Wood will retire early next year after six years in the role, with mining veteran and former Anglo American CFO Stephen Pearce set to lead the West Australian diversified miner as it navigates a significant leadership transition.Pearce, who has served as a South32 director and brings more than 35 years of financial and commercial experience across mining, oil and gas sectors, will assume the chairmanship several months before CEO Graham Kerr’s planned departure mid-year, said the Australian Financial Review on Thursday.Kerr, who has led the company since its 2015 spin-off from BHP, will be succeeded by Matthew Daley, an Anglo American executive with extensive copper expertise, the newspaper said.Wood said the timing would provide leadership continuity, allowing Pearce to work alongside Kerr before overseeing Daley’s transition, it added.Pearce, whose previously worked at Fortescue Metals Group and Alinta Energy, said he anticipated no major strategic shifts but suggested South32 could further refine its portfolio. “If opportunities came up to either bring in assets or to take out assets for value, then we always will have a look at those,” he said.The ASX-listed miner produces aluminium, silver and nickel across operations in Australia, Africa and South America, having shifted its focus from coal towards future-facing metals including copper, zinc and aluminium since separating from BHP.Three years ago South32 acquired a 45% stake in Sierra Gorda, a Chilean open-pit copper mine. It also operates the Hillside and Mozal aluminium smelters in southern Africa.Wood, who held several global executive leadership positions at BHP before retiring in 2014, praised South32’s efforts to advance women in mining, noting that women now comprise the majority of board members.The post South32 open to more portfolio changes, says new chair appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com