https://www.engineeringnews.co.za

Teck goes on headhunting spree with investors seeking change

21st August 2020

By: Bloomberg

  

Font size: - +

Teck Resources is shaking up its top executive ranks after coming under fire from investors seeking change at Canada’s largest diversified miner.

Harry “Red” Conger, a veteran miner who stepped down from Freeport-McMoRan this month, becomes Teck’s COO effective September 1, the Vancouver-based company said in a statement.

Teck also named Jonathan Price, an executive from BHP Group, as CFO, effective October 1, to succeed Ron Millos, and appointed Rothschild & Co.’s Nicholas Hooper as senior vice president of corporate development, according to the statement.

The changes are being made after CEO Don Lindsay was severely criticised by investors who had called for his ouster. In May, Impala Asset Management revealed it had sent a letter to Teck’s board in February, criticising Lindsay. And an Australian hedge fund, Tribeca Investment Partners, had called for Lindsay’s replacement and said the company should divest energy and coal assets.

Teck’s shares have struggled this year, dropping 26% in Toronto trading, compared with a 13% gain in the 107-company Bloomberg World Mining Index.

“These changes will further strengthen our senior management team as we continue to advance our key priorities to generate long-term value for shareholders,” Lindsay said in Wednesday’s statement.

Edited by Bloomberg

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Industrial Nozzles & Systems (Pty) Ltd
Industrial Nozzles & Systems (Pty) Ltd

Industrial Nozzles & Systems (Pty) Ltd (Est. 2000) exclusive representative in Southern Africa for LECHLER GmbH (Est. 1879) - Europe's leading...

VISIT SHOWROOM 
ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.046 1.061s - 140pq - 2rq
Subscribe Now