Sector News

Orica announces leadership transition plan

March 18, 2015
Energy & 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

May 26, 2024

Borealis signs first Austrian wind and solar PPA with Burgenland Energie

Energy & Chemical Value Chain

Borealis has partnered with Austria-based wind and solar power producer and green tech solution provider Burgenland Energie on a power purchase agreement (PPA). Under the ten-year agreement, renewable electricity will be provided by a hybrid renewable energy park located in Nickelsdorf, Austria, which is owned by Burgenland Energie’s subsidiaries Nick Alpha and Wind PV Operation.

May 26, 2024

DuPont to split into three companies

Energy & Chemical Value Chain

DuPont de Nemours Inc. announced plans to split into three separate, publicly traded companies. The electronic materials and water business will become independent companies, with the remainder of the company to comprise New DuPont. The splits will be complete within 18 to 24 months, and do not require shareholder approval.

May 26, 2024

Olin hires new leader for chlor-alkali and vinyls business

Energy & Chemical Value Chain

Olin Corp. has hired Deon Carter as vice president and president/chlor-alkali products and vinyls, effective June 17. Carter was previously COO at Continental Industries Group, a position he took April 2023 after serving as president and CEO of Scientific Design Company.

How can we help you?

We're easy to reach