Ferrexpo PLC Appointment of Independent Non-Executive Director (8854Q)
23 October 2023 - 5:04PM
UK Regulatory
TIDMFXPO
RNS Number : 8854Q
Ferrexpo PLC
23 October 2023
23 October 2023
Ferrexpo plc
("Ferrexpo" or the "Group")
Appointment of Independent Non-Executive Director
and Retirement of Non-Executive Director
Ferrexpo plc (LSE: FXPO), a premium iron ore pellet supplier to
the global steel industry, is pleased to announce the appointment
of Stuart Brown as an Independent Non-executive Director to the
Ferrexpo Board of Directors ("Board") with effect from 22 October
2023.
Mr Brown is a seasoned mining executive with extensive board
level experience. He previously held both CFO and CEO roles at De
Beers and its various subsidiaries, where he played a central role
in reshaping the group and positioning it for the future. Most
recently, Mr Brown served as President and CEO at Mountain Province
Diamonds Inc., a company listed on the Toronto Stock Exchange, and
as CEO of Firestone Diamonds Plc, formerly listed on the AIM of the
London Stock Exchange where he established a track record of
building teams and leading business transformation to develop lean,
agile, high performing organisations.
Commenting on Stuart's appointment, Lucio Genovese, interim
Executive Chair said: "We are pleased to welcome a Non-executive
Director of Stuart's calibre to the Board. His decades of
experience in finance and the mining industry, in addition to
operating in challenging geo-political circumstances, are
competencies that will benefit Ferrexpo."
The Company also advises that Mr Graeme Dacomb will retire from
the Board at the end of this year. Mr Dacomb is currently Chair of
the Audit Committee, a position that Mr Brown will assume from 1
January 2024, ensuring the necessary time for an orderly handover.
Mr Brown is also appointed as a member of the Audit Committee with
effect from his appointment to the Board.
Commenting on the retirement of Mr Dacomb, Lucio Genovese said:
"We thank Graeme for his contribution to Ferrexpo. Graeme has
helped guide Ferrexpo through many demanding and difficult
circumstances over the last four years. On behalf of the Board, we
wish Graeme all of the very best for the future."
There is no other information concerning Mr Brown that is
required to be disclosed pursuant to paragraph 9.6.13 R of the
Listing Rules.
Notes to Editors
Following the appointment of Mr Brown the number of independent
directors will increase to five, two of whom are female. Following
the retirement of Mr Dacomb at the end of this year, the number of
independent directors will reduce to four.
For further information please contact:
Ferrexpo:
+44 (0)20 7389
Nick Bias n.bias@ferrexpo.ch 8305
+44 (0)7733 177
831
Tavistock:
+44 (0)20 7920
Jos Simson ferrexpo@tavistock.co.uk 3150
+44 (0)7785 974
Gareth Tredway 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 50 years. Before Russia's invasion of
Ukraine in February 2022, the Group was the world's third largest
exporter of pellets to the global steel industry. The Group has a
global customer base comprising of premium steel mills around the
world.
For further information, please visit www.ferrexpo.com .
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END
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