Stillwater Mining CEO to retire

The American platinum and palladium producer, Stillwater Mining (NYSE:SWC), announced that CEO Frank McAllister will be retiring.

Terrell I. Ackerman, vice president of corporate development for the company, will serve as interim CEO.

McAllister joined the company in 2001. The company was listed on the New York Stock Exchange during his tenure.

Brian Schweitzer, the company's chairman of the board, thanked McAllister for his service.

"Frank's commitment and dedication to the company's success is evidenced by Montana's position for continued growth and expansion," said Schweitzer.

"We at Stillwater will miss him and wish him all the best in his retirement."

Stillwater is the only significant primary producer of palladium in the Western Hemisphere.

Screen still of Frank McAllister from YouTube