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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