25 maj: Parken bekærfter: Carsten V. Jensen stopper som FCK-træner (NY)
26 maj: Skattereform 2012
25-05-2012 18:08:00

Chile Codelco Chairman: Timing Of CEO Resignation Unexpected

Relateret indhold

SANTIAGO -(Dow Jones)- The timing for the resignation of Chilean state copper giant Codelco's Chief Executive Diego Hernandez was unexpected but it won't weaken the company's image, the chairman of the company's board said Friday.

Codelco is in the middle of a legal battle with Anglo American PLC (AAUKY, AAL.LN) over an option the state miner has for a stake in Anglo's Sur copper mining complex.

"This was Diego Hernandez's personal decision. We tried to find the best moment, but it wasn't possible," Chairman Gerardo Jofre told reporters.

He said the board was previously aware of Hernandez's wish to leave the world's biggest copper miner.

Earlier this week, Hernandez tendered his resignation, effective June 1, citing personal reasons.

In addition to speculating that Hernandez could be headed to London-listed Chilean miner Antofagasta PLC (ANTO.LN) to fill the vacant CEO spot, local newspapers reported his resignation was due to differences with the board over management styles, but Jofre denied these reports.

"We have a very good relationship with Diego Hernandez," he said.

Codelco's board named chief financial officer Thomas Keller as the new CEO.

Earlier this week, Anglo and Codelco agreed to suspend their legal wrangle until June 22 in the hopes of reaching an out-of-court settlement over the stake in the Sur property.

Jofre said the management shuffle wouldn't alter Codelco's strategy in its dealings with Anglo American.

Due to an option dating back to 1978, Codelco holds that it has the right to buy a 49% stake in Anglo's Sur complex, and struck a financing deal for the purchase in October with Japan's Mitsui & Co (8031.TO).

Anglo, meanwhile, argues that the option only allows Codelco to buy a 24.5% stake in the Sur complex following Anglo's sale of a Sur stake in November to Japan's Mitsubishi Corp. (8058.TO) for $5.39 billion.

-By Carolina Pica, Dow Jones Newswires; 56-2-715-8919; carolina.pica@dowjones.com

--Graciela Ibanez contributed to this article.

(END) Dow Jones Newswires

May 25, 2012 12:08 ET (16:08 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

November stod i massefyringernes tegn i Danmark

09-12-2016 12:41:05
November blev den værste måned siden 2009, når det kommer til store fyringsrunder i Danmark. Det viser de nyeste tal fra Jobindsats, en offentlig enhed der over..

Aktier/middag: William Demant gør stærkt comeback

09-12-2016 11:41:09
Høreapparatselskaberne William Demant og GN Store Nord er atter i fokus fredag middag, men denne gang for det positive. Mens nye regler fra de amerikanske sundh..

Aktier/tendens: Mærsk og banker kan komme i fokus

09-12-2016 08:30:45
Efter en positiv reaktion på torsdagens rentemøde i Den Europæiske Centralbank (ECB) tyder det på en nogenlunde flad åbning på aktiebørserne i Europa fredag.Den..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge

Relaterede aktiekurser

Anglo American PLC ORD U.. 1.235,56 -0,8% Fald i aktiekurs
Antofagasta PLC ORD 5P 756,19 0,6% Stigning i aktiekurs
Anglo PLC 15,65 -4,0% Fald i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2016  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
11. december 2016 01:15:06
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20161205.1 - EUROWEB7 - 2016-12-11 01:15:06 - 2016-12-11 01:15:06 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x