REG - Antofagasta PLC - Appointment of New CEO <Origin Href="QuoteRef">ANTO.L</Origin>

AntofagastaAnnouncement

08/04/2016 12:00

RNS Number : 6327U
Antofagasta PLC
08 April 2016
NEWS RELEASE, 8 APRIL 2016
IVN ARRIAGADA SUCCEEDS DIEGO HERNNDEZ 
AS CEO OF ANTOFAGASTA PLC
Antofagasta plc ("Antofagasta" or the "Company") announces that Diego Hernndez will retire from the position of Chief Executive of Antofagasta plc and will be succeeded by Ivn Arriagada, the current Chief Executive of Antofagasta Minerals. The handover will take place with immediate effect and Diego will stay on as an adviser to the Board.
Ivn has held the position of CEO of Antofagasta Minerals since February 2015, working closely with Diego on integrating management practices to strengthen the mining division as the industry continues to adapt to challenging market conditions. Since joining the Company, Ivn has led a rigorous cost reduction programme, focusing on maintaining the Companys healthy balance sheet while ensuring all of the Companys operations are generating operating cash flow at current copper prices.
Jean-Paul Luksic, Chairman, said: "With 25 years of operational and financial experience in the mining and oil and gas industry, including leading Antofagasta Minerals, Ivn is the right person to succeed Diego and to continue to deliver the Group's strategy. His strong leadership has proven effective to navigate the current challenges of low copper prices without losing our ability to grow and develop in the future."
Ivn Arriagada said: "Antofagasta is one of the world's largest copper producers and is at the heart of Chile's economy. I am proud to be taking on the role of CEO of the Company and look forward to continuing to work with the outstanding people at our Company to deliver value for all our stakeholders."
Jean-Paul Luksic added, "On behalf of the Board, I want to thank Diego for his commitment and dedication over these past years. His strong leadership has been key in organising the Company and our management structures to better prepare us for future challenges. We look forward to his continued support, not only of the Group, but also in the development of the mining industry in Chile."
Diego Hernndez said: "It has been a privilege to have led Antofagasta over the past three and a half years supported by an excellent team through difficult times. It is now time to hand over the reins to Ivn who has the track record to capitalise on the progress we have made to strengthen the Group and to take it forward."
Notes to Editors
Ivn Arriagada - biography
Before he became CEO of Antofagasta Minerals in February 2015, Ivn Arriagada, 52, was Vice-President of Administration and Finance at Codelco. Prior to that, he held various positions at BHP Billiton, including President of Pampa Norte, Vice-President of Production for the Base Metals division and CFO for the Base Metals division. Ivn also worked for almost 20 years at Shell, in Chile, the United Kingdom, Argentina and the United States.
Ivn holds an MSc in Finance from the London School of Economics and Political Science, and a business degree from the Universidad Federico Santa Mara, Escuela de Negocios Adolfo Ibez, in Chile. He has also attended several executive education programmes at Wharton, INSEAD and the MIT Sloan School of Management.
For further information about Antofagasta, please visit www.antofagasta.co.uk
Investors - London 

Media - London

Andrew Lindsay 
alindsay@antofagasta.co.uk
Carole Cable
antofagasta@brunswickgroup.com 
Paresh Bhanderi
pbhanderi@antofagasta.co.uk
Will Medvei
antofagasta@brunswickgroup.com
Telephone
+44 20 7808 0988
Telephone
+44 20 7404 5959




Investors - Santiago 

Media - Santiago 

Alfredo Atucha 
aatucha@aminerals.cl 
Pablo Orozco 
porozco@aminerals.cl 
Telephone 
+56 2 2798 7000
Carolina Pica
cpica@aminerals.cl


Telephone 
+56 2 2798 7000

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