Peter Smedley, the founding chairman of Arrium, announced at yesterday’s AGM that he would be retiring in a year.
Smedley, whose career also includes time at Shell Oil, Colonial Ltd and Mayne Nickless, was the founding chairman of the company (formerly OneSteel), which demerged from BHP in 2000.
Another founding director at Arrium, Dean Pritchard, also announced that he would be resigning.
The AGM also heard that Arrium had achieved a robused result for iron ore for the quarter, with shipments up 400,000 tonnes on the previous quarter and received prices up by $US 9 per tonne, The Australian reports.
Smedley will retire at the company's 2014 AGM.