Christel Bories, CEO of French mining giant Eramet, is stepping down in May to pursue personal endeavors. Despite leaving the CEO role, she will remain chairwoman. Eramet plans to announce Bories' successor by the end of the first quarter, separating the CEO and chairperson positions.
Christel Bories will be stepping down as the chief executive of French mining group Eramet in May, although she will remain as chairwoman, the company announced on Tuesday. Bories, who has been CEO since 2017, has overseen a strategic shift within Eramet towards minerals used for electric vehicle batteries, notably through the development of a major manganese project in Gabon.
Eramet anticipates announcing Bories’ successor as CEO by the end of the first quarter, thereby separating the chief executive and chairperson roles. This change will be proposed to Eramet’s shareholders at the group’s annual meeting on May 27. Bories shared with reporters during a call that the decision to relinquish the CEO role was made to allow her to dedicate more time to personal projects. She emphasized that she has no health issues and enjoys the full support of the board. The separation of the CEO and chair roles had been a topic of discussion within Eramet as far back as 2021, amid tensions surrounding Bories’ renewal as CEO. The company’s largest shareholder, the Duval family, had initially opposed extending her mandate before ultimately agreeing with the French state to support Bories. A change in CEO was deemed sensible as Eramet prepares for a new phase in its development following a period of rapid expansion in mine production in recent years. Bories acknowledged that sluggish demand from China remains a challenge for the mining sector, with the current downturn contributing to discussions about consolidation within the industry. Eramet in October significantly reduced its production targets for 2024, partly due to weaker Chinese demand and a diminished permit for nickel output in Indonesia
Eramet Christel Bories CEO Mining Electric Vehicles Batteries Manganese Shareholder China Industrial Consolidation
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