Alberto Calderon has been appointed managing director and CEO of Orica, the world’s biggest supplier of explosives to the mining industry now feeling the effects of a volatile and uncertain market.
Calderon was made interim chief executive in March after the then CEO Ian Smith left suddenly following reports of an aggressive and abrasive management style.
“My focus will be on ensuring the execution of Orica’s strategy as we continue on the path to being a simpler, more flexible and efficient company, and a partner of choice for our customers globally,” Calderon said when his appointment was made permanent today. “At the same time, I want to ensure a culture of respect, collaboration and performance.”
Orica reported a 3% drop in March half year net profit to $211 million and says it’s difficult to give profit guidance in an uncertain market. It sold its chemicals business in February to private equity group Blackstone for $750 million. Part of the proceeds, about $400 million, are being used in a share buyback.
Calderon is a former chief executive of Aluminium, Nickel and Corporate Development at BHP. His base pay at Orica is $1.8 million plus short and long term incentives including shares.
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