The board of Toronto-based miner Hudbay Minerals has initiated a search for a new CEO, following the resignation of Alan Hair, who has been with the company for more than 20 years.
The TSX-listed mining firm appointed Peter Kukielski, former Nevsun Resources CEO, who recently joined the Hudbay board as a nominee of Waterton Global Resource Management, as interim CEO.
Private-equity firm Waterton, which holds about 12% of Hudbay, previously pushed to replace Hair as CEO and to overhaul its board. Hudbay and Waterton in May agreed on a slate of 11 board members, who were subsequently elected.
“We have a strong management team and an experienced leader in Peter Kukielski, who will ably lead the company in the interim, while we complete our search for the best possible permanent leader for Hudbay,” stated chairperson Alan Hibben.
He added that Hair’s departure would not affect Hudbay’s strategic or financial outlook.
The new CEO will be an internal or an external candidate.