Mineral Resources has scrapped the mid-2026 deadline for Chris Ellison to step down as managing director. This decision comes a year after the company’s founder pledged to resign following a series of scandals that negatively impacted the company’s reputation. Mineral Resources is a leading Australian mining services company, specialising in iron ore and lithium production, as well as providing mining services to third parties. The company is known for its innovative approach to resource development and its significant infrastructure assets.
Addressing shareholders at the annual meeting in Perth, chairman Malcolm Bundey announced that Ellison would stay on beyond the initial deadline. Instead, Ellison will implement a ‘three-stage’ succession plan, which will allow him to retire in a ‘considered and methodical way.’ Bundey stated the company aims to ensure a lasting, high-quality outcome for the company, its employees, and its shareholders, rather than rushing to meet an arbitrary deadline.
Bundey clarified that while the former board had set a target date for succession, the support program in place was outdated. He added that it could not confidently deliver a smooth transition without creating unnecessary risk for the company and its shareholders. This revised approach aims to mitigate potential disruptions and ensure stability during the leadership change.
Bundey emphasised alignment with Ellison, stating that both agree the leadership transition must be a rigorous, well-managed process rather than an ‘event,’ which it had become. The focus is now on a structured and phased approach to ensure a seamless handover and continued success for Mineral Resources.
