Hudbay will see change at the top. Alan Hair, the company’s president and CEO, has stepped down from his post.
According to an announcement from Hudbay July 10, Hair will be leaving after over two decades with the company. In his place, Hudbay has appointed former Nevsun Resources president and CEO Peter Kukielski as the company’s interim CEO.
Kukielski joined Hudbay in May as a member of the company’s board of directors.
Last year, Kukielski was named as a candidate for CEO and president of Hudbay by Waterton Global Resource Management, Hudbay’s second largest shareholder, during a period of dispute between Waterton and Hudbay. Waterton had also recommended a slate of candidates for the company’s board, including Kukielski.
“While I always believed as much from outside the company, I have learned a lot about Hudbay as a director and feel more than ever that this company has a bright future,” said Kukielski in a news release.
“I look forward to working with our experienced and dedicated management team to deliver on our 2019 strategic priorities and near-term catalysts.”
Following an agreement with Waterton earlier this year, Kukielski was named to Hudbay’s board, along with Waterton-recommended candidates Daniel Muniz Quintanilla and David Smith.
Kukielski has more than 30 years of experience in the mining industry from around the world.
Hudbay board of directors chair Alan Hibben heaped praise on Kukielski in the press release, while emphasizing Kukielski’s appointment would be temporary and clarifying Hair’s departure will not mean radical changes for the company.
"Alan’s departure does not affect our strategic or financial outlook. Our focus remains on executing against our value creation strategy and delivering on a number of near-term catalysts," he said.
The company’s search for a permanent CEO is underway, with the board of directors looking both inside and outside the company for a potential replacement.
Hair was named Hudbay’s president and CEO in 2016, after serving as the company’s chief operating officer from 2012 to 2015 and senior vice president of business development and technical services.
Hair also stepped down from the company’s board of directors, leaving a vacancy.