South32 chair Karen Wood to retire after 6 years
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The news: South32 has announced the retirement of its chair Karen Wood and the election of independent non-executive director Stephen Pearce as her successor.
The context: Wood joined the board in 2017 and was elected chair in 2019. She will leave the board in February 2026.
Pearce joined the board in February this year, having previously served as chief financial officer and executive director of Anglo American for seven years. He has also held CFO roles at Fortescue and Alinta Energy, and is on the board of both Ampol and BAE Systems.
South32, which was spun out of BHP Billiton in 2015, announced earlier this year that chief executive Graham Kerr will leave the role "later in 2026". The diversified miner said today that the timing of the chair succession will allow Pearce to work with Kerr through 2026 until his departure.
What they said: "Stephen's appointment to the role of chair in February 2026 gives him the opportunity to work with Graham then oversee the CEO transition when it occurs," said Wood.
"I have no doubt this continuity and collaboration will serve South32 well."
Pearce commented: "I admire the tremendous work Karen has done with the board and lead team to substantially reposition South32 and capitalise on the increasing demand for base metals."
The source: ASX
