Regulated Information - Inside Information
13 December 2016 at 18.15 CET
The Board of Directors of Nyrstar NV ("Nyrstar" or "the Company") announce today that Bill Scotting, Chief Executive Officer of Nyrstar, has decided to leave the Company to pursue other opportunities with immediate effect.
Since joining in 2015, Bill has led Nyrstar and been instrumental in implementing the change in strategy to strengthen the balance sheet, divest the Mining segment, deliver substantial cash and cost savings and progress the Port Pirie Redevelopment.
Mr Hilmar Rode, an industry leader with significant experience in metals processing, the Board's unanimous choice as Bill's successor, will be the new Chief Executive Officer of Nyrstar effective immediately. Hilmar's background in the metals industry and specifically his experience and technical knowledge of the smelting business will be an asset for the Metals Processing transformation strategy. He has demonstrated experience through his involvement with the construction and commissioning of an ISA smelt furnace and acid plant at the Kazzinc project in Kazakhstan, and his extensive experience at the Skorpion zinc project in Namibia which produces special high grade zinc. Further detail of Hilmar's professional experience can be found in the Notes to Editors below. Chairman, Martyn Konig said: "The Board thanks Bill for his hard work and unrelenting dedication since he joined Nyrstar. We all wish Bill the best for his next venture." "For Nyrstar, 2017 is a significant year of delivery with the Port Pirie Redevelopment, further optimisation of the Metals Processing assets and the divestment of the remainder of the Mining segment. We welcome Hilmar as CEO and are confident that his extensive experience in delivering projects of this scale and type will successfully execute the Company's strategy."
Nyrstar reiterates its 2016 full year guidance.
- ENDS -
Notes to Editors:
Hilmar Rode - biography
Hilmar brings to Nyrstar more than 20 years of experience in the metals (zinc, copper, coal and diamonds), paper & packaging and chemicals industries. He has worked at BHP Billiton, Glencore, Mondi, Anglo American and Praxair in senior management roles spanning operations, strategy, business development and R&D. At Glencore and Anglo American he accumulated extensive experience in zinc & lead mining and smelting.
Most recently, he led the successful transformation of Minera Escondida, the largest copper mining and processing project in Chile operated by BHP Billiton. The transformation achieved a step change in productivity and reset the cost base whilst always putting safety first.
Prior to BHP Billiton, Hilmar led a restructuring and business optimisation project at Glencore's Kazzinc operation in Kazakhstan for two years, including the design and implementation of a new business model converting the zinc, lead and copper smelters from cost centres to profit centres, the construction and commissioning of an ISA smelt furnace and construction of a new acid plant.
While at Anglo American, Hilmar worked on the Skorpion zinc project in Namibia for four years from pre-feasibility through to commissioning. He had responsibility during the project phase for product and marketing, including product and casthouse specification, outbound logistics, port warehouse specification, customer segmentation and implementation of the sales strategy.
He holds a PhD in Chemical Engineering and a Masters in Environmental Engineering from the State University of New York at Buffalo and a first-class degree in Chemical Engineering from the University of Stellenbosch. He also completed the Advanced Management Programme at Harvard Business School.
About Nyrstar Nyrstar is a global multi-metals business, with a market leading position in zinc and lead, and growing positions in other base and precious metals, which are essential resources that are fuelling the rapid urbanisation and industrialisation of our changing world. Nyrstar has mining, smelting and other operations located in Europe, the Americas and Australia and employs approximately 5,000 people. Nyrstar is incorporated in Belgium and has its corporate office in Switzerland. Nyrstar is listed on Euronext Brussels under the symbol NYR. For further information please visit the Nyrstar website: www.nyrstar.com .
For further information contact:
| Anthony Simms | Group Manager Investor Relations | T: +41 44 745 8157 | M: +41 79 722 2152 | E: anthony.simms@nyrstar.com |
| Franziska Morroni | Group Manager Corporate Communications | T: +41 44 745 8295 | M: +41 79 719 2342 | E: franziska.morroni@nyrstar.com |
The full press release can be downloaded from the following link:
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