TerraCom (ASX:TER) is looking for its next CEO after Danny McCarthy stepped down from the managing director role.
McCarthy has resigned and board members have approved his three weeks’ notice.
Although his last day as managing director will be on 30 April 2026, he will stay on as a consulting advisor until at least 30 September. This is hoped to ensure “continuity” and an orderly “transition” of responsibilities between McCarthy and his successor.
A thorough recruitment process is underway to find a replacement. Chief Operating Officer Chris Bourke will temporarily act as the interim CEO.
“It has been a privilege to lead TerraCom since 2018 and work alongside our people, board, and stakeholders,” McCarthy says.
“I am proud of what we have achieved together and the position the company is in… and I remain committed to supporting a smooth and orderly transition over the coming months.”
The board thanked McCarthy for his substantial achievements which include stabilising and integrating Universal Coal’s former South African operations, following TerraCom’s successful asset acquisition during 2020.
McCarthy was also pivotal in extending mine life at the Blair Athol coal operation, 24km northwest of Clermont in Central Queensland’s Isaac region.
TerraCom is a low-cost coal producer with assets in both Australia and South Africa.
Write to Richard Szabo at Mining.com.au
Images: TerraCom
