Mr Peet Nienaber CEO of Xstrata Alloys has decided to retire for personal and family reasons. Mr Peet has led Xstrata Alloys, comprising the Group’s ferrochrome, platinum and vanadium assets, since the inception of Xstrata plc in 2002. He became responsible for Xstrata’s South African chrome business following the 1997 acquisition by Xstrata AG of ChromeCorp, a company he co founded in 1988.

Mr Peet will retire at the end of September 2012. Mr Loutjie Smit will become Acting CEO of Xstrata Alloys on an interim basis to ensure business continuity and continue integration planning for the proposed merger with Glencore International. Mr Loutjie is a non executive director of Xstrata South Africa and chairman of the Audit Committees of Xstrata Nickel and Xstrata Alloys.

Mr Mick Davis CEO of Xstrata plc said that “mr Peet has built the world’s leading integrated ferrochrome business from a standing start over the past 25 years. In his time at Xstrata plc he has been a valued member of the executive team. He leaves with our best wishes and sincere thanks for his contribution to Xstrata’s growth and success.”

Source - Xstrata

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