(Adds details, analyst comments)
By Philip Blenkinsop and Silvia Antonioli
BRUSSELS/LONDON, Nov 26 (Reuters) - Zinc producer Nyrstar SA has ousted its chief executive and is replacing himtemporarily with its finance chief, a surprise change only weeksafter commodities trader Trafigura bought a largestake in the company.
Nyrstar said Roland Junck, 59, had left to pursue otherinterests after nearly six years in the post and Chief FinancialOfficer Heinz Eigner had been appointed acting CEO while theboard seeks a permanent replacement.
It said Trafigura had no bearing on the move. "The boarddecided that it was time to choose a new leader. It was a mutualagreement between the board and Mr. Junck," said Nyrstarspokesman Greg Morsbach. Trafigura declined comment.
However market sources told Reuters last month Trafigura wasaiming to influence board decisions and tighten its grip on theworld's largest zinc producer.
"Junck's seemingly abrupt departure ... may raise suspicionsthat his decision to step down at this time was no coincidence,"said analyst Alon Olsha at brokerage Macquarie. "One can alsoonly speculate whether Trafigura used their leverage to effectthis change."
Trafigura started in September to build a stake which standsat at least 15 percent, making it the company's largestshareholder.
Analysts said Junck's track record at the helm Nyrstar hadbeen disappointing, arguing his strategy to invest in buyingmines in particular was poorly executed and failed to achieveits stated objective on production or costs.
"The management change could possibly bring a bit moreenthusiasm in the investor community, depending on who is namedas the permanent CEO ... it could be a net positive for thegroup," said Citi analysts in a note.
Nyrstar has since September raised 600 million euros ($748million) with a bond yielding 9 percent and a share issue totransform its site in Port Pirie, Australia and to upgrade itssmelters.
The company, formed from merging the zinc smeltingbusinesses of Belgium's Umicore and Australia'sZinifex, floated in 2007 at 20 euros per share, but itlanguishes well below that level and closed on Tuesday at 2.74euros, weighed down by a low zinc price, investor impatiencewith its mining expansion and the failure of its Finnishsupplier Talvivaara, which earlier this month applied forbankruptcy.
Trafigura has already tried to influence the composition ofthe board of another company in which it invested. Afterbuilding an 18 percent stake in EMED Mining it proposedlast month to oust all but one of its directors and substitutethem with its own nominees. (1 US dollar = 0.8021 euros) (Editing by Greg Mahlich and David Holmes)
