Who is Peter Albert, outgoing Managing Director of 29 Metals?

$29M Who is Peter Albert, outgoing Managing Director of 29 Metals?

29Metals Limited (ASX: 29M) unveils a comprehensive transition plan that will mark the departure of its longstanding Managing Director & CEO, Peter Albert, effective April 30, 2024. This transition, endorsed by the company's board, signifies a pivotal moment in 29Metals' journey as it forges ahead with its strategic vision beyond the successful completion of the Capricorn Copper recovery plan. It also reflects Peter Albert's aspiration to embark on the next phase of his illustrious career.

Charting a New Course

The transition plan is the culmination of in-depth discussions centered around succession planning within the company. As 29Metals charts its course post the Capricorn Copper recovery plan, Peter Albert expressed his desire to explore new horizons in his professional journey. The board has responded by initiating a well-considered succession process, signaling a strategic shift for the company's leadership.

An Executive Search Begins

29Metals has launched an executive search to identify the next individual who will ... assume the crucial roles of Managing Director & CEO. This transition period, unveiled today, has been meticulously structured to ensure a seamless transition of leadership responsibilities. It provides ample time to identify a visionary leader who will navigate 29Metals through its next phase of evolution.

Owen Hegarty, Chair of 29Metals, underscores the significance of this transition, stating, "The Board, together with Peter, felt now was the right time to commence the transition, with a new Managing Director & CEO to come in and take 29Metals forward." He emphasizes the board's unwavering support for Peter Albert during this transition period.

A Focus on Key Priorities

While the quest for a new Managing Director & CEO is underway, Peter Albert will continue to lead the company. He will receive full backing from the board and the entire 29Metals team as they maintain their focus on critical milestones. This includes the successful conclusion of the Capricorn Copper recovery plan, securing essential regulatory approvals, and executing strategic plans at Golden Grove.

Acknowledging Peter Albert's Remarkable Contributions

Peter Albert's tenure at 29Metals has been marked by remarkable accomplishments. He steered the company through its formation and a successful Initial Public Offering (IPO). His leadership was tested during the unprecedented challenges posed by the COVID-19 pandemic and external market conditions over the past two years. Additionally, the company faced the extraordinary weather event at Capricorn Copper this year, which Peter adeptly managed.

Owen Hegarty expressed deep appreciation for Peter's unwavering commitment and exceptional leadership during these challenging times. The board acknowledges and commends the significant role he played in 29Metals' journey.

Peter Albert's Storied Career

Peter Albert boasts a distinguished career spanning more than 35 years in the mining industry, with a vast footprint across multiple commodities and geographies, including Australia, Asia, Africa, and Europe. His wealth of experience includes 25 years in CEO and executive roles for listed mining companies in Australia and Asia. He has particular expertise in project management, development and operation of large-scale underground and open-pit mining operations, sustainability, ESG performance, and corporate strategy.

Before assuming the role of Managing Director & Chief Executive Officer at 29Metals, Peter served as the CEO of EMR Capital's copper portfolio in preparation for 29Metals' successful initial public offering and ASX listing in 2021. His earlier executive roles included leadership positions at ASX-listed Highfield Resources Limited (ASX: HFR), Jinchuan International, G-Resources Limited, and Executive General Manager – Asia for ASX-listed Oxiana Limited (later, OZ Minerals Limited). Peter also held previous roles with Fluor Australia, Shell-Billiton Australia, Davy John Brown, and Johannesburg Consolidated Investments.

Peter was appointed as a Director on May 27, 2021, and officially assumed the role of Managing Director & Chief Executive Officer on July 2, 2021.

In conclusion, the announcement of Peter Albert's retirement and the subsequent transition of leadership positions 29Metals on an exciting new trajectory. As the company embarks on the quest for its next visionary leader, it remains steadfast in its commitment to key strategic priorities and anticipates a future filled with promise and potential under new guidance. Peter Albert's contributions have been invaluable, and the company extends its gratitude for his dedicated service as it prepares for the next phase of its journey.

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