Pembroke founder Barry Tudor steps back
Coking coal producer Pembroke Resources founder Barry Tudor has stepped down as chairperson and CEO after more than a decade at the helm, handing the reins to seasoned mining executive Michael Rosengren as the company shifts from developer to established producer at its flagship Olive Downs steelmaking coal project in Queensland.
Tudor, who founded Pembroke in 2014, guided the business from concept through to financing, construction and commissioning of the Olive Downs Complex in the Bowen basin. The mine is now producing at run-rate levels following ramp-up earlier this year. Tudor will remain on the board to support the leadership transition.
Rosengren, who takes over as CEO effective immediately, brings extensive operational experience from senior roles at BHP, Thiess and Mount Isa Mines. Most recently he was MD of QMetco, where he oversaw operations at the Foxleigh coal mine. His appointment coincides with several other executive changes as Pembroke repositions itself for long-term production growth.
Carl Tricoli, Pembroke’s new chairman, thanked Tudor for his contribution in taking the company from a greenfield concept to a producing mine.
“His commitment and vision have guided Pembroke from its earliest stages and the company has achieved many significant milestones … from concept through to final investment decision, construction, commissioning and now run-rate production under his leadership,” Tricoli said.
Tudor said the time was right to hand over day-to-day responsibilities after seeing Pembroke evolve into a producer. “After conceiving Pembroke in 2014 and taking the company from a concept all the way through to a producing entity, the time is right for me to take a step back,” he said.
The Olive Downs Complex Stage 1 is producing six-million tonnes a year of run-of-mine coal for export to steel mills in Southeast Asia and Europe, with expansion plans under way to lift output further.
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