Former director of Melbourne's Alumina limited, Mike Ferraro is stepping in as the successor of CEO Peter Wasow, who announced his retirement on Monday May 22. Ferraro will be assuming his new office after Wassow retires on May 31, the company announced without giving any reason for the departure of the latter.
Explaining the change Alumina Ltd’s Chairman John Pizzey said, “Peter joined the Company as a non-executive director in 2011 and became CEO at the start of 2014” ... “In that time, both the Company and AWAC have undergone a significant transformation, significantly influenced by Peter’s perseverance and efforts. The recent negotiations by the Company culminated in significant improvements to our participation rights in the AWAC joint venture in 2016. The Board and I would like to thank Peter for his leadership through this time.”
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Ferraro currently operates a commercial and resource law firm in the city of Melbourne. He has also remained an investment banker and served BHP Billiton as Chief Legal Council for two and half years. He joined Alumina Limited in the middle of 2010.
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John Pizzey welcomed Ferraro saying, “The Company has undergone substantial restructuring and is well positioned for the future. Both Mike’s professional experience and his time on the board will contribute to a seamless continuation of the Company’s strategy. We welcome him to the role and look forward to his contribution.”
“Alumina’s assets are Tier 1 in quality. The Company now enjoys strategic options previously not available to it. I believe this is a great time to take on the CEO role,” remarked Ferraro.
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