May 18, 2020 / 7:12 AM / in 19 days

UPDATE 1-Ferrexpo names insider James North as acting CEO

(Adds details on appointment, former CEO)

May 18 (Reuters) - Iron ore pellets producer Ferrexpo Plc on Monday appointed James North as its acting chief executive officer, six months after Kostyantin Zhevago stepped down temporarily to resolve issues at his former business in Ukraine.

North, currently the company’s chief operating officer, will take on additional duties with effect from May 28 after the conclusion of the annual general meeting, the company said.

He joined Ferrexpo in 2014 and has held senior operational management roles at Rio Tinto and BHP.

In October, Ferrexpo said Zhevago was temporarily stepping down as CEO on matters related to the Bank Finance and Credit business he owned until 2015.

In January, a Ukrainian court put a restriction on the sale of 50.3% of Ferrexpo’s shareholding in Ferrexpo Poltava Mining (FPM), one of the London-listed company’s mining businesses in Ukraine.

The company has asked its finance head Chris Mawe, who has been acting as CEO since October, to return to his previous role.

Shares of Ferrexpo were up 4% at 147 pence.

Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich and Ramakrishnan M.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below