South32 Limited (ASX: S32) , a global mining and metals company, recently announced a significant leadership transition set to occur in 2026. The company revealed on May 12, 2025, that Matthew Daley is appointed as Deputy CEO in February 2026 and will later succeed Graham Kerr as CEO. This marks South32’s first major leadership change since its inception in 2015.
The South32 share price has reacted positively by adding 2.87% on the day, extending a rally that has seen S32 move more than 14% off the lows just over 1 month ago. Despite the recent bounce, the stock trades down 17% through 2025, as sentiment shifted bearish from the end of March.
Graham Kerr will be stepping down after leading the company for over a decade. During his tenure, Kerr was instrumental in establishing a values-based culture and enhancing operational discipline within South32. Under his leadership, the company also invested in exploration opportunities and focused on improving safety and efficiency.
South32’s Chair, Karen Wood, praised Kerr’s contributions, emphasizing his role in building a quality leadership team and fostering a positive corporate culture. Matthew Daley, who is slated to take over as CEO, brings over 20 years of experience in the global mining sector and is currently serving as the Technical and Operations Director at Anglo American plc. Daley holds a Bachelor of Engineering (Mining) with Honors from the University of South Australia and plans to relocate to Australia for his new role.
Matthew Daley’s employment terms include an annual salary of A$2 million plus superannuation, along with performance-based incentives. He will also receive compensation for forfeited benefits from his previous employer, pending shareholder approval at South32’s 2025 Annual General Meeting.
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This leadership transition is viewed as a strategic move to strengthen South32’s position in critical minerals and energy-transition metals, and investors have responded optimistically, signaling confidence in Daley’s ability to lead the company into a new era of growth and sustainability.
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