Arrium looking to replace CEO
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SYDNEY, Nov 19 AAP
November 19 2012, 1:32PM
Iron ore miner and steel maker Arrium has begun looking for its next chief executive.
Current managing director and chief executive Geoff Plummer has committed to continue in the role, as required, until the end of 2013, Arrium said on Monday.
But the company will begin considering internal and external candidates to replace him, chairman Peter Smedley said.
"This gives the company the extended and flexible timeframe to enable a smooth and measured leadership transition," he said in a statement.
"A succession program through 2013 represents an appropriate timeframe during which to effect the change."
The plan provided a "natural conclusion" to Mr Plummer's time as chief executive of Arrium, formerly OneSteel. He will have been in the role for nine years by the end of 2013, Mr Smedley said.
Arrium also said its iron ore shipments in the three months to the end of September were in line with expectations, at 1.61 million tonnes.
The average price realised for ore over the three months was about $US83 a tonne, down $US26 a tonne on the preceding three months, as demand from Chinese steel mills weakened.