BC Iron managing director Mike Young has announced he will step down from the helm of the iron ore miner in May.
BC Iron managing director Mike Young has announced he will step down from the helm of the iron ore miner in May.
Mr Young will remain on the BC Iron board as a non-executive director, while finance director Morgan Ball will take on the duties of managing director.
Mr Young will BC Iron chairman Tony Kiernan said the board was anticipating Mr Ball to be an outstanding managing director.
“He has a deep understanding of the business and has been involved in a senior role in all transactions and development since joining the company some three and a half years ago,” Mr Kiernan said in a statement.
Mr Kiernan also paid tribute to Mr Young for his role in building BC Iron from explorer to significant iron ore producer.
Mr Young was BC Iron’s only employee when the company listed on the ASX in 2006. Since then, the company has grown from an exploration company with a greenfields project into a 5 million tonne per year iron ore producer.
“It was Mike’s decision to step down and we are delighted that he will remain on the board where we look forward to his continued contribution as a non-executive director,” he said.
“All at BC Iron wish him well in his future endeavours.”
Mr Young said he didn't expect to see the culture or strategy at BC Iron to change as a result of the management transition.
"From my own perspective, the time is certainly right for me to move to a non-executive director role at BC Iron, and I plan on continuing to play a supportive role in the company," Mr Young said.
At 11:45AM, WST, BC Iron shares were up half a per cent, trading at $3.69.
