Mining

Credit Suisse’s Downey appointed as MMX chief

4th August 2009
Updated 5 hours ago

JOHANNESBURG (miningweekly.com) – Brazilian miner MMX has appointed Roger Downey as its new CEO.

Downey, who joined MMX from Credit Suisse, would take over the position from Eike Batista, who has been serving as CEO and chairperson of the mining company.

Batista would remain as chairperson.

Further, Downey would also assume the position of investor relations officer, with Chequer Hanna Bou-Habib, who served as commercial and investor relations officer, now focusing exclusively on the commercial area.

At Credit Suisse, Downey was responsible for coverage of the mining and steel companies in Latin America since 2005.

Prior to that, Downey had worked in the mining industry in sales, marketing, business development and strategy areas of iron-ore world producers, such as Vale and Rio Tinto, for 14 years.

Meanwhile, Joaquim Martino Ferreira, until now executive officer of MMX, would become special adviser of EBX Group for mining activities, but would be nominated to become a member of MMX's board of directors, as vice-chairperson.

“A promising future, of significant wealth creation, dawns for MMX. We have already created extraordinary value for the company since 2006, which has been shared with all shareholders. We put two iron-ore systems into operation in record time, with high-grade iron-ore, low-cost and integrated logistics,” commented Batista.

Source: MiningWeekly.com, http://www.miningweekly.com/article/credit-suisses-downey-appointed-as-mmx-chief-2009-08-04