Ferrexpo PLC has announced the appointment of Stuart Brown as an Independent Non-executive Director to the Ferrexpo Board of Directors, effective from 22 October 2023. Brown is a seasoned mining executive with extensive board level experience, having previously held CFO and CEO roles at De Beers and its subsidiaries. He also served as President and CEO at Mountain Province Diamonds Inc. and CEO of Firestone Diamonds Plc. Lucio Genovese, interim Executive Chair, commented that Brown's experience in finance and the mining industry, as well as operating in challenging geo-political circumstances, will benefit Ferrexpo.
In addition, the company announced the retirement of Graeme Dacomb from the Board at the end of this year. Dacomb is currently Chair of the Audit Committee, a position that Brown will assume from 1 January 2024. Brown will also be appointed as a member of the Audit Committee. Genovese thanked Dacomb for his contribution to Ferrexpo and wished him the best for the future.
Following Brown's appointment, the number of independent directors on the Board will increase to five, two of whom are female. After Dacomb's retirement, the number of independent directors will reduce to four.
Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It produces high-grade iron ore pellets, which are a premium product for the global steel industry. The company's operations have been supplying the global steel industry for over 50 years.