Zug, 20 July 2012
Peet Nienaber, Chief
Executive, Xstrata Alloys, has decided to retire for personal and family
reasons. Peet has led Xstrata Alloys, comprising the Group’s ferrochrome,
platinum and vanadium assets, since the inception of Xstrata plc in 2002. Peet
became responsible for Xstrata’s South African chrome business following the
1997 acquisition by Xstrata AG of ChromeCorp, a company he co-founded in 1988.
Peet will retire at the end
of September 2012. Loutjie Smit will become Acting Chief Executive, Xstrata
Alloys on an interim basis to ensure business continuity and continue
integration planning for the proposed merger with Glencore International.
Loutjie is a non-executive director of Xstrata South Africa and chairman of the
Audit Committees of Xstrata Nickel and Xstrata Alloys.
Mick Davis, Xstrata plc
Chief Executive Officer, said: “Peet has built the world’s leading integrated
ferrochrome business from a standing start over the past 25 years. In his time
at Xstrata plc he has been a valued member of the executive team. He leaves
with our best wishes and sincere thanks for his contribution to Xstrata’s growth
and success.”
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