Mining types were a bit surprised to hear that a senior BHP Billiton exec has opted for a change of scene.
Peter Toth revealed yesterday that he will be taking the helm at OM Holdings. He is on gardening leave until he joins the junior manganese miner in September.
The shift is a surprise because it means BHP will be losing one of its main iron-ore negotiators before the titan settles on a price with the Chinese and Japanese.
And not to forget that there just happens to be the small matter of BHP's takeover tilt for Rio Tinto.
We'd have thought the turnstiles would be more likely to turn more swiftly at Rio.
But perhaps the 10 million options - which are already in the money - that he'll get upon joining OM Holdings have something to do with it.
OMH Price at posting:
0.0¢ Sentiment: None Disclosure: Held
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