Global mining services contractor Perenti has appointed South32 executive Vanessa Torres as its new managing director, succeeding Mark Norwell at the helm.
Global mining services contractor Perenti has appointed South32 executive Vanessa Torres as its new managing director, succeeding Mark Norwell at the helm.
Perth-headquatered Perenti’s board picked Ms Torres following an extensive search process after announcing Mr Norwell’s unexpected retirement in October.
Chair Diane Smith-Gander said Ms Torres was a highly accomplished executive with extensive operational and leadership experience across global mining operations.
The incoming chief – who will start later this month before her official appointment on June 1 – will lead Perenti’s four divisions operating in several global mining jurisdictions.
Perenti poached Ms Tores from South32, where she most recently held the role of chief operating officer after first joining the global metals and mining company in 2018.
In that role, Ms Torres oversaw South32's Worsley Alumina assets, Cannington silver-lead-zinc mine and Australian manganese operations. She was previously chief technical officer and chief technology officer.
The mining executive previously spent 11 years with BHP, where she held a range of senior executive roles in strategy and operations, including as vice president of operational infrastructure.
Mr Torres also has a full professional director portfolio, as she chairs the board of the Minerals Research Institute of WA, serves as a director for the Minerals Council of Australia, and is the WA President of the Committee for Economic Development of Australia.
The market was told Mr Norwell will remain with the company – for which he has helmed since 2018 - through June and into the next financial year, with an exact date not disclosed.
Under Mr Norwell's leadership, the listed contractor execution several acquisitions, including Barminco and DDH1, and more than doubled its market value to $1.83 billion.
But he also navigated significant challenges and backlash after the contractor reported five workplace fatalities in three years, prompting a remuneration restructure and a safety transformation taskforce involving external experts.
Ms Smith-Gander told the market the board’s decision on Ms Torres was based on a rigorous recruitment process.
She said the process involved “exceptional internal and external candidate”
“I would first like to acknowledge Mark’s significant contribution to Perenti,” Ms Smith-Gander said.
“Under his leadership, Perenti has delivered more than a four‑fold revenue growth since he commenced in 2018 and achieved material improvements across all key financial metrics.”
Ms Smith-Gander said Ms Torres brought the ideal combination of strategic capability, operational excellence, industry insight and people-focused leadership to the role.
“The board believes Vanessa is the right successor for Mark and is confident her leadership will build on Perenti’s strong foundations, drive our strategy forward and support the company’s next phase of growth,” Ms Smith-Gander said.
Ms Torres’ total fixed remuneration sits at $1.2 million per annum, alongside short and long incentives plans which could see her pocket bonuses of up to 240 per cent. She's also required to build and maintain a shareholding in Perenti during her tenure.
Commenting on her appointment, Ms Torres said it was an honour to be appointed at such an exciting time for the business.
“I look forward to working collaboratively with the board and management team to continue the development and delivery of the Perenti strategy to create enduring value and certainty for our clients, people, communities and shareholders,” she said.
