World’s Largest Copper Producer Names Insider to Replace Departing CEO
- Former Teniente boss Octavio Araneda to replace Nelson Pizarro
- Araneda to take over cost cutting and productivity challenges
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Chile’s state-owned copper producer Codelco named Octavio Araneda as chief executive officer, following the departure of Nelson Pizarro.
Pizarro handed in his resignation on Friday during a board meeting at the company’s headquarters in Santiago, Codelco said in a statement. Araneda, who was most recently vice-president of operations at the company’s central and southern division, was chosen unanimously by the board. The leadership change will be effective Sept. 1.