Bloomberg reported that Inmet Mining Corporation appointed CEO Mr Jochen Tilk to replace CEO Mr Richard Ross.

Toronto based Inmet said in a statement that the appointment of Mr Tilk is part of a plan of executive succession, which has been in development over the last several years.

Mr Ross who held the post for 10 years will remain chairman until December 31st 2009.

The management change comes more than a month after Inmet’s talks to sell a minority stake to an unidentified party backed by Korea Resources were terminated. Korea Resources said that it wanted to buy a stake and hoped to complete the negotiations by the end of 2009.

(Sourced from Bloomberg)