Gindalbie Metals (GBG) has appointed former senior Rio Tinto (RIO) Iron Ore executive Dale Harris as managing director, succeeding Tim Netscher.
In a statement to the Australian Securities Exchange, Gindalbie said the appointment was in line with its previously announced succession plan, after Mr Netscher agreed to extend his contract until the end of the year to ensure management stability during the Karara project ramp-up.
Mr Harris was previously chief operating officer for Rio Tinto Iron Ore and earlier held a number of senior positions with the group.
He commences handover on October 14 and will formally assume the role on November 1.
His remuneration will be $600,000 per year, with a short-term incentive bonus of up to 25% of fixed remuneration and a long-term incentive bonus of up to 125% awarded as share options.