Ferrexpo PLC Appointment of Chief Executive Officer (7067B)
15 2월 2022 - 4:00PM
UK Regulatory
TIDMFXPO
RNS Number : 7067B
Ferrexpo PLC
15 February 2022
15 February 2022
Ferrexpo plc
("Ferrexpo" or the "Company" or the "Group")
Appointment of Chief Executive Officer
The Board of Directors ("Board") of Ferrexpo plc (LSE: FXPO),
the world's 3(rd) largest exporter of high grade iron ore pellets
to the global steel industry, is pleased to announce the permanent
appointment of Jim North as Chief Executive Officer ("CEO") of the
Group, effective immediately.
Mr North has held the position as Acting CEO from May 2020,
having been the Group's Chief Operating Officer since 2014. Prior
to joining Ferrexpo, Mr North held a variety of senior operational
management roles in multiple commodities with Rio Tinto and
BHP.
Since stepping into the role of Acting CEO, Mr North has guided
the Group to implement projects to enhance the overall
effectiveness of the Group's operations in Ukraine and securing the
Group's first long-term contract for its latest product - higher
grade direct reduction pellets, despite operating with restrictions
relating to the global Covid-19 pandemic. In addition to delivering
these operational improvements, under Mr North's leadership the
Group has also published a formal shareholder returns policy,
inaugural carbon reduction targets and announced the Wave 1
Expansion which will add a further three million tonnes of pellet
capacity; initiatives that are all aimed at positioning Ferrexpo
for a low-carbon future.
Lucio Genovese, Chair of Ferrexpo, said:
"Having shown excellent leadership of the Group since assuming
the role of Acting CEO in May 2020, we are delighted to announce
the permanent appointment of Jim North as CEO. During his time as
Acting CEO, Jim has shown an adept ability to refocus the Group's
strategy, further promote an inclusive leadership model, deliver a
clear message on key topics relevant to stakeholders, whilst also
continuing to deliver strong operational performance across the
Group. All of this has been achieved against a backdrop of the
global Covid-19 pandemic, which is a credit to Jim and the wider
leadership team. In making the decision on the role of CEO as
announced today, the Board has incorporated feedback received from
a variety of stakeholders, and we look forward to working together
with our stakeholders to deliver the next phase of the Group's
activities."
For further information, please contact:
Ferrexpo:
Rob Simmons r.simmons@ferrexpo.ch +44 207 389 8305
Tavistock:
Jos Simson +44 207 920 3150
Gareth Tredway ferrexpo@tavistock.co.uk +44 7785 974 264
About Ferrexpo:
Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine and a premium listing on the London Stock Exchange in
the FTSE 250 index (ticker FXPO). The Group produces high grade
iron ore pellets, which are a premium product for the global steel
industry and enable reduced carbon emissions and increased
productivity for steelmakers when the Group's iron ore pellets are
converted into steel, compared to more commonly traded forms of
iron ore. Ferrexpo's operations have been supplying the global
steel industry for over 40 years and in 2021 the Group produced
11.2 million tonnes of iron ore pellets, placing Ferrexpo as the
world's 3(rd) largest exporter of pellets to the global steel
industry with a market share of approximately 9%. The Group has a
global customer base comprising of premium steel mills around the
world, which includes steel mills in Austria, Germany, Japan, South
Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam
and America. For further information, please visit www.ferrexpo.com
.
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END
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February 15, 2022 02:00 ET (07:00 GMT)
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