South32 shares rise amid sector wide gains
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More News: South32 shares rose throughout the trading day after the mining giant announced a new CEO and as higher industrial metal prices lifted mining stocks amid reports that the US and China have made progress towards a trade deal.
South32 shares were up 3.05% to $2.88 at 3:32pm AEST but are still down 16.7% over the past 12 months.
South32 says CEO Graham Kerr to be replaced by Matthew Daley
The news: Mining giant South32 says longtime CEO Graham Kerr will step down in 2026, with incoming Anglo American executive Matthew Daley to be the replacement.
The numbers: Daley will join South32 as deputy CEO in February 2026 and then assume the role of CEO when Kerr steps down later that year. Kerr has been in the position since 2015, when the group was spun out of BHP.
The context: Daley is currently the technical and operations director at global miner Anglo American, which he joined in 2017. He has previously worked at Glencore, Xstrata and Minera Alumbrera. South32 said his appointment follows a global search that included internal and external candidates.
“As we embark on this leadership transition, I want to recognise the outstanding contribution Graham has made over a decade of service through the company’s demerger from BHP and the subsequent transformation of its portfolio,” South32 chair Karen Wood said in a statement.
The source: ASX
