DRA Global has appointed acting CEO James Smith to the position permanently, the engineering, project delivery and operations management group announced on Thursday.
Smith is a process engineer with more than 25 years of experience in the mining, industrial and financial sectors who stepped in as interim CEO in March. He has also worked in consulting, investment advisory and operational leadership positions.
“For many years, James has proven himself as a strong leader who is highly qualified in every respect,” chair Peter Mansell said. “With James at the helm, alongside the refreshed executive leadership team, the board is confident that DRA will continue to successfully navigate its next phase of growth and achieve its strategic objectives.”
Before joining DRA, Smith held leadership roles at management consulting, private equity and various mid-sized industrial, manufacturing and distribution businesses in Southern Africa. He studied chemical engineering at Wits.
DRA said in August it has five projects lined up in SA for the rest of the year, including work at Northam Platinum’s Zondereinde mine, Ivanplats’s Platreef project, Glencore’s Tweefontein water reclamation plant, Umsimbithi Mining’s Wonderfontein mine and Sibanye-Stillwater’s Kroondal operations.
The company, headquartered in Perth, Australia, operates in Africa, the Middle East, Europe, Asia-Pacific, North and South America and employs more than 4,500 people. Its primary listing is on the Australian Securities Exchange (ASX), with a secondary listing on the JSE, where it is valued at R1.17bn.
According to its interim results, DRA Global generates just over half of all revenue in SA (51.7%), with the country accounting for more than 85%) of its revenue from the Europe, the Middle East, and Africa region.
ASX listing requirements include that the company must disclose parts of Smith’s employment agreement. He will earn R5.5m a year, including pension benefits, and is eligible for the company’s short-term bonus and long-term performance incentive schemes. Annual leave includes 20 working days and should he resign, he needs to serve a notice period of six months. Non-competition and non-solicitation restraints apply for a year after the contract ends.
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