Pilbara Minerals share price lifts as new CEO takes reins

Pilbara Minerals has promoted from within its ranks.

| More on:
A close-up of a handshake depicting a business deal with one of the people in the background of the shot alongside a colleague looking pleased at the deal.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Pilbara Minerals shares edge 2.35% higher to $2.84 in early afternoon trade
  • The company announced the appointment of its new managing director and CEO, Dale Henderson
  • Former head honcho Ken Brinsden will move into a special advisory role to Pilbara Minerals

The Pilbara Minerals Ltd (ASX: PLS) share price is heading north on Monday.

This comes after the Australian lithium-tantalum producer announced a senior leadership appointment.

At the time of writing, Pilbara Minerals shares are exchanging hands at $2.84, up 2.35%.

Let's take a look at the details.

New leadership at Pilbara Minerals

According to its release, Pilbara Minerals advised it has appointed Dale Henderson as its new managing director and CEO.

Having served as the company's chief operations officer from September 2017 to June 2022, Henderson will take over the reins from Ken Brinsden.

The latter formally retired from the top role on 30 July 2022, but will remain in a special role advising Pilbara Minerals.

Furthermore, Brinsden will remain as the nominated director of the POSCO joint venture company until a replacement is found. This is expected to occur sometime later this year.

Touching on his time as Pilbara Minerals CEO over the last six years, Brinsden commented:

I am incredibly proud of what the team has achieved since 2015. From the initial Pilgangoora project delivery to what it is today, a global lithium producer with plenty more growth to come, it has been an incredible journey! With many highs and testing a few lows, but throughout what sticks most in my mind is the incredible people and partners that I have had the privilege of working with.

Investors may want to keep an eye out this Wednesday. This is when Henderson will provide an update about Pilbara Minerals' operations and growth strategies at the 2022 Diggers and Dealers Mining Forum.

Pilbara Minerals share price summary

Over the last 12 months, the Pilbara Minerals share price has accelerated by 60%.

However, this has not been the case when looking year to date, with the miner's shares down 11.4%.

Based on today's price, Pilbara Minerals commands a market capitalisation of around $8.2 billion.

Motley Fool contributor Aaron Teboneras has positions in Pilbara Minerals Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Materials Shares

A man reacts with surprise when her see a bargain price on his phone.
Materials Shares

Broker tips 50-60% upside for two ASX materials shares

Here are two materials shares to consider for your portfolio 

Read more »

A cartoon drawing of a battery with arms, legs and a sad face slumping foraward and looking despondent.
Materials Shares

Why this expert is calling time on Core Lithium shares

A leading expert delivers his verdict on the outlook for Core Lithium shares.

Read more »

Happy man in high vis vest and hard hat holds his arms up with fists clenched celebrating the rising Fortescue share price
Materials Shares

Why did the BHP share price jump in July?

Let's see why the Big Australian outperformed the market last month.

Read more »

a man in a hard hat and overalls raises his arms and holds them out wide as he smiles widely in an optimistic and welcoming gesture.
Materials Shares

Macquarie tips 18% upside for Pilbara Minerals shares

The broker has good things to say about this lithium giant.

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Materials Shares

Why is this ASX mining stock crashing 25% today?

Let's see why investors are hitting the sell button on Friday.

Read more »

A man working in the stock exchange.
Materials Shares

Are Liontown Resources shares a sell according to Macquarie?

Let's see what the broker is saying about this lithium miner.

Read more »

Miner standing in front of a vehicle at a mine site.
Materials Shares

Rio Tinto shares sink on half-year profit decline and smallest dividend since 2018

Investors haven't responded positively to the miner's half year update.

Read more »

A man casually dressed looks to the side in a pensive, thoughtful manner with one hand under his chin, holding a mobile phone in his hand while thinking about something.
Materials Shares

Are Pilbara Minerals shares a buy after its strong quarter?

Let's see what analysts are saying about this mining giant after its update.

Read more »