HomeMarket NewsMiningIGO Affirms Support for New CEO Vella Despite Rio Tinto Departure

IGO Affirms Support for New CEO Vella Despite Rio Tinto Departure

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Amidst the recent leadership transition at IGO, the Board has thrown its weight behind new CEO, Ivan Vella, following his departure from Rio Tinto. In a statement, IGO’s chair, Michael Nossal, emphasized the alignment of Vella’s values with those of the company and his established track record as a corporate leader. The board expressed continued confidence in Vella’s character despite the circumstances surrounding his exit from Rio Tinto.

Vella, who previously headed the aluminum division at Rio Tinto, admitted accountability for a policy breach that resulted in his early departure from the company. However, he adamantly stated, β€œHaving dedicated over 20 years of my life to Rio Tinto, there was no mal intent in my actions.”

Vella’s appointment comes at a critical juncture for IGO, as the nickel business grapples with the repercussions of an expensive acquisition of rival Western Areas’ nickel assets and the rapid depletion of its flagship Nova nickel-copper-cobalt mine.

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