Lynas Rare Earths CEO to retire after over a decade in role

Australia’s Lynas Rare Earths said on Tuesday its chief executive officer and managing director, Amanda Lacaze, was retiring after 12 years at the helm.

The board has already begun a search process to select a new chief to lead the world’s largest rare earth producer outside China and would consider both internal and external candidates, Lynas said in a statement.

Lacaze would remain with the company until the end of the current financial year to enable a smooth transition, the company added.

Lacaze was named as the company chief in 2014 after serving as a non-executive director with the miner.

Under her watch, Lynas has become a dominant force in the production of rare earth elements, with its stock surging more than 12-fold since she took over as CEO 12 years ago. Its market capitalization is now at about A$15 billion ($10.06 billion), according to LSEG data.

Lacaze previously served as the managing director of marketing at Telstra, Australia’s largest telecom firm, and also held roles at Nestle.

($1 = 1.4908 Australian dollars)

(By Rajasik Mukherjee; Editing by Anil D’Silva)