Clean energy solutions developer IGO [ASX:IGO] has announced it will soon be under new management, having appointed a new Chief Executive Officer and Managing Director, Mr Ivan Vella.
Mr Vella has been lured away from energy rival Rio Tinto [ASX:RIO], where he has spent the past two years running the group’s aluminium business from Montreal.
Mr Vella will relocate to Perth to start his new role with IGO, where he will finally fill the gap left by the group’s former CEO Mr Peter Bradford who passed away rather suddenly late last year.
IGO shares were slightly down today, by around 1% and trading for $14.44 each.
The multi-billion-dollar energy explorer has moved up more than 7% in share value so far this year and is 26% and 23% higher than its sector and the wider market, respectively:
Source: tradingview.com
IGO coaxes Rio Tinto’s Ivan Vella to join as new CEO
Earlier on Tuesday, lithium and nickel power play group IGO announced that it found a new leader in Mr Ivan Vella, after a long global search that has been carried out since October last year when it shared the tragic passing of its former CEO and Managing Director, Mr Peter Bradford.
Mr Vella has been poached away from energy sector rival Rio Tinto, where he was tasked with leading Rio’s Iron Ore business as interim CEO after Rio’s Juukan Gorge was lost to legal disputes surrounding heritage rights.
Here Mr Vella had the delicate responsibility of rebuilding relationships with the Traditional Owners – the Puutu Kunti Kurrama and Pinikura people (PKKP).
IGO described Mr Vella’s ‘distinguished career’ in the mining and resources sector, with experience in multiple commodities, geographies, and markets.
Vella has spent two decades at Rio Tinto, with his latest role being Chief Executive of the group’s aluminium division and executive committee.
Michael Nossal, IGO’s Chair, commented:
‘After a rigorous process that considered many high-quality candidates from a number of different jurisdictions, we are delighted to have appointed Ivan to lead IGO through the next stage of our transformation.
‘Ivan has a wealth of international experience across a range of commodities and markets, and has proven his aptitude in some of the most complex operating environments. It is notable that Rio Tinto turned to Ivan to rebuild their relationships with the PKKP in the wake of the Juukan Gorge tragedy.’
Mr Vella also provided a statement:
‘I am thrilled and honoured to be given the opportunity to join and lead the talented and strong team at this important time in IGO’s history. The company’s purpose and values deeply resonate with me and IGO has positioned itself brilliantly to be at the forefront of the global transition to a green energy future.’
Mr Vella will begin at IGO in December, following his notice period and handover at Rio Tinto and his family’s relocation to Perth from their current home in Montreal.
IGO said that in addition to his career at Rio Tinto, he has served as both the President and Vice President of the Chamber of Mines and Energy of Western Australia and has a breadth of experience, making him a suitable candidate to drive IGO’s growth and success into the future.
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