Xstrata Plc (XTA.L, XSRAY.PK, XSRAF.PK) said Peet Nienaber, chief executive, Xstrata Alloys, has decided to retire at late September 2012 for personal and family reasons. Loutjie Smit will become acting chief executive, Xstrata Alloys on an interim basis to ensure business continuity and continue integration planning for the proposed merger with Glencore International.
Smit is a non-executive director of Xstrata South Africa and chairman of the Audit Committees of Xstrata Nickel and Xstrata Alloys.
Nienaber has led Xstrata Alloys, comprising the Group's ferrochrome, platinum and vanadium assets, since the inception of Xstrata in 2002. He became responsible for Xstrata's South African chrome business following the 1997 acquisition by Xstrata AG of ChromeCorp, a company he co-founded in 1988.
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