Sector News

Orica announces leadership transition plan

March 18, 2015
Chemical Value Chain
Orica Chairman Russell Caplan today announced that the Board and Ian Smith have agreed on a timetable for Mr Smith to step down from the position of Managing Director and CEO. 
 
“An international search is underway and is canvassing both internal and external candidates. The Board and Mr Smith intend that the transition will occur in an orderly and timely manner,” Mr Caplan said. 
 
Mr Caplan said: “The Board set Ian a challenging brief and a demanding timeframe to lead a vigorous top-to-bottom transformation of the company. As a result, Orica today is a stronger, more resilient company.” 
 
Mr Smith said: “By the end of my fourth financial year the transition of Orica’s strategy, structure and operating model will be well advanced. The transformation program that we have undertaken has enabled Orica to adopt a business model that delivers a more sustainable profile through all parts of the resource commodity cycle.”
 
“Orica’s transformation to a pure play, global mining services company has been achieved, its cost profile has been significantly reduced and its focus on delivering value-adding solutions to the resources and infrastructure sectors has been sharpened. 
 
“The Board and Ian agree that this is an appropriate time to move forward with transition to a new leader with a different management style who will consolidate and build on the foundations that have been laid,” Mr Caplan said.
 
Source: Orica

comments closed

Related News

November 27, 2022

ICIG to acquire MSSA from Nippon Soda

Chemical Value Chain

International Chemical Investors Group (ICIG) has entered exclusive negotiations with Nippon Soda and made what it said is a “firm and binding offer” to acquire the Japanese group’s offshoot Métaux Spéciaux (MSSA), a sodium metal specialist.

November 27, 2022

FIFA World Cup: Coca-Cola launches 100% recycled PET bottles to promote Qatari recycling

Chemical Value Chain

Aligning with the SC’s key initiatives on responsible plastic recycling, Coca‑Cola Middle East’s pilot of 100% rPET bottles marks the first time the packaging will be in circulation at a FIFA World Cup tournament and serves as Coca‑Cola’s debut in locally producing the bottles in the region.

November 27, 2022

Neste acquires another used-oils business in the U.S.

Chemical Value Chain

Through the transaction, Neste is acquiring a leading UCO collection and recycling business on the US West Coast, covering the collection, logistics and storage of UCO in California, Oregon and Washington. Together with the previous acquisitions (…) the transaction continues to enhance Neste’s global raw materials sourcing platform.