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IGO full of confidence in new boss Vella

IGO Vella

Despite being fired from his Rio Tinto post, IGO will proceed with hiring Ivan Vella as its new boss.

IGO reiterated its confidence in Vella this week, with chair Michael Nossal suggesting Vella had already done enough to impress the company.

“Throughout the recruitment process, the board was highly impressed by the alignment of Ivan’s values with those of IGO, and his proven track record as a corporate leader,” Nossal said.

“Upon reviewing the full circumstances of this recent situation, the board continues to have confidence in Ivan’s character, integrity and professionalism.”

Vella stepped down from his position at Rio in June but remained with the company throughout the transition process.

However, Vella’s contract with Rio was terminated on November 15. In a statement, Rio said the termination was due to the “failing to follow guidance on acceptable management of confidential information”.

Vella said there was “no mal-intent” in the actions that led to his early Rio Tinto departure.

“I regret the events that led to my early departure from Rio Tinto but, having been passionately dedicated to Rio Tinto for over 20 years of my life, I can confirm that there was no mal-intent,” he said.

“I am now very excited to be joining the IGO team and working together to deliver the full potential of IGO’s purpose.”

Vella will take over from acting chief executive Matt Dusci, who has been leading the team since the sudden passing of managing director Peter Bradford on October 15, 2022.

One of Vella’s first tasks as IGO boss will be overseeing the review of the company’s Cosmos nickel project, with a market update set for release in the coming months.

IGO will also be working to turn around its Nova and Forrestania nickel operations – both of which experienced production dips in the September quarter.

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