Kenmare FD Hickey to succeed outgoing MD Carvill
Titanium minerals and zircon producer Kenmare Resources has appointed FD Tom Hickey to succeed Michael Carvill as MD, with effect from August 15.
Carvill is stepping down as Kenmare MD after 38 years in the role.
The company, which owns and operates the Moma titanium minerals mine, in Mozambique, will undertake a process to identify and appoint a new CFO.
“As previously announced, Michael Carvill, Kenmare’s founder, will be stepping down as MD after almost four decades. Michael’s vision, energy and commitment have enabled Kenmare to become one of the largest titanium minerals producers in the world and a name respected and admired throughout the industry. I would like to again express our profound gratitude to Michael for his tremendous contribution to the company and his ongoing support as a consultant.
"Tom has extensive experience in finance and natural resources, including as CFO of Tullow Oil, which grew to be a FTSE 100 company during his tenure. The board felt that Tom’s combination of financial acumen, capital markets experience and knowledge of Kenmare’s business made him uniquely qualified to lead the company at this important time and to continue delivering value for all stakeholders. We congratulate Tom on his appointment and wish Michael all the best in his future endeavours,” comments Kenmare chairperson Andrew Webb.
Hickey, meanwhile, says he "greatly enjoyed" working with Carvill over the past two years and that he is delighted to be given the opportunity to lead Kenmare during this exciting phase in its development.
"We are undertaking one of the largest capital projects in the company’s history through the upgrade and transition of Wet Concentrator Plant A, which will allow us to secure production from Moma for decades to come and maintain our first-quartile position on the industry revenue to cost curve," he adds.
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