(Alliance News) - Ferrexpo PLC on Monday said it has appointed Chief Operating Officer James North as acting chief executive from Thursday next week.
The FTSE 250-listed iron ore miner said North will combine both roles. He will not join the board but will be invited to attend all board meetings.
Meanwhile, Chris Mawe has been asked to return to his previous role as chief financial officer, Ferrexpo reported.
At the end of October 2019, CEO Kostyantin Zhevago temporarily stepped down, remaining as a non-executive director. CFO Mawe was made acting CEO at the same time.
North, as COO, has a strong focus on operational matters which will allow the company to increase its attention on the future growth of the business, Ferrexpo said, subject to market conditions and cash flow generation.
He joined Swiss-based Ferrexpo in November 2014, having previously served as COO of London Mining PLC.
Ferrexpo shares were trading 4.8% higher in London on Monday at 148.10 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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