MMG plans CEO succession

MMG today announces that CEO and Executive Director, Mr Andrew Michelmore, has confirmed his intention to retire from his position as Chief Executive Officer in 2017. A succession process, led by Chairman Mr Jerry Jiao will commence and will consider both internal and external candidates.

MMG Chairman, Mr Jerry Jiao, said: “The Board looks forward to continuing to work with Mr Michelmore and acknowledges his dedication and significant contribution to the success of MMG to date.

“The Board and Andrew have agreed it is important for him to stay on until mid-2017 to oversee the production ramp up of Las Bambas and other key strategic initiatives. This will ensure continuity and an orderly succession process.”

As the Chairman of MMG and the Nomination Committee, Mr Jiao will appropriately lead the succession process with the support of the Board Nomination Committee. A rigorous assessment and comprehensive international search will be conducted.

MMG Chief Executive Officer, Mr Andrew Michelmore said: “MMG is an incredible company that I remain very passionate about. I believe MMG has a strong future ahead of it.

“The time is now right for me to consider my retirement and give the Board and management team sufficient time to ensure an orderly transition.   After 14 years as Chief Executive of four different companies it is time for me to seek new challenges after concluding my full time executive career.

“However nothing changes today.  I am as committed as ever to ensuring we continue the successful production ramp up of Las Bambas and set our business up for future growth and success.”

 [ENDS]