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In a significant restructuring of Pilbara iron ore miner Atlas Iron, company founder and managing director David Flanagan will step down from his role in August.
In a statement yesterday Atlas said Flanagan would become executive chairman and still play a pivotal role in the company’s direction.
"The restructure will initially see Mr. Flanagan retain a day-to-day role overseeing Atlas growth (assisting Mr. Brinsden) with a particular emphasis on strategic planning and corporate issues," it said.
Ken Brinsden is currently Atlas’s chief development officer but will be promoted to the company’s managing director.
Atlas said the promotion reflected a "strong confidence" in Brinsden’s ability to lead.
Brinsden has been at Atlas since its beginning, and oversaw the development of the Wodinga and Pardoo projects, and helped secure capacity at the cramped port in Port Hedland.
The company has also added former Fremantle Ports boss Kerry Sanderson to the board, with current chairman David Hannon stepping aside to make way for Flanagan.
Hannon will continue as an independent non-executive director of the company.
Brinsden is expected to take a starting salary of $800,000 a year.