stage 2, page-3

http://www.afr.com/p/business/companies/lynas_names_noyrez_as_new_ceo_msOV3UNxOukuxU1BBuHZvI

Full article


Nick Curtis has dismissed concerns over whether he would be able to step back from the executive function at rare earths miner Lynas Corp, saying it had been the board’s choice to appoint a new chief executive.

Lynas on Monday said the company’s chief operating officer, Eric Noyrez, would become its new chief executive, taking over from executive chairman Mr Curtis on March 31.

The move was sparked after Lynas started commercial production at its controversial Lynas Advanced Materials Plant (Lamp) in Malaysia in February.

Liam Forde, who has been Lynas’s lead independent director, was appointed deputy chairman as part of the management overhaul to ensure strong governance.

Mr Curtis played down any issues relating to his change in role.

“I’m very familiar with the distinction between the roles of the executive and non executive chairman,” Mr Curtis said yesterday.

“I did the same thing when I handed over to Jake Klein at Sino Gold.”

“Really this was a decision made by our board.”

Mr Klein as well as CSR director Kathleen Conlon and former Telstra boss Ziggy Switkowski are also on the Lynas board. The move came as little surprise given the company has moved from developer to producer this year.

Mr Curtis recruited Mr Noyrez from rare earths technology and supply giant Rhodia Silcea in 2010 to take on the chief operating officer role at Lynas, with a view to potentially taking over once the plant was operational.

Mr Noyrez is already familiar with the investment market having participated in roadshows in his capacity as COO.

He was unavailable for comment on Monday as he was meeting with investors in Europe, where Lynas said it had already secured sales contracts for the bulk of its stage two production.

The company expects to commission the second phase of its Lamp facility in the second quarter.

Mr Noyrez shares a history in the chemicals business with BHP Billiton’s new chief executive Andrew Mackenzie and automotive with Rio Tinto’s new boss Sam Walsh.

“Eric also has extensive senior management and board level experience in major multinational industrial and chemical companies,” Lynas said in a statement.

“Prior to working with Rhodia he managed chemical and industrial businesses for the Shell group of companies in France and abroad for 11 years, while his early career was with the Peugeot/Citroen automotive group.”

His appointment follows a lengthy battle to start commercial production at the Lamp project, which has been plagued by protests in Malaysia. Mr Noyrez will likely continue to face challenges and political opposition, as Malaysia prepares for general elections later this year.

Mr Curtis, who also runs corporate advisory firm Riverstone Advisory, will continue to focus on strategy development at Lynas.

“He will also continue to represent Lynas at the World Economic Forum and Co-Chair the WEF’s Global Growth Companies group,” Lynas said.

Lynas shares were unchanged at 59¢ by close of market on Monday.