- DRA Global (DRA) announces Andrew Naude will step down as Managing Director and CEO after nine years with the company
- Mr Naude joined DRA as a senior executive in 2013 and is the longest serving director, serving as Managing Director and CEO since 2019
- His notable legacy in DRA is his key role in leading DRA’s international expansion from South Africa and oversaw its transformation into a global mining services business operating on five continents with annual revenue exceeding $1 billion
- DRA will identify internal and external candidates for its permanent CEO position, and has appointed senior executive James Smith to take over as interim CEO
- DRA shares held steady at $2.76 at the end of the trading day
DRA Global (DRA) has announced that Andrew Naude will step down as Managing Director and CEO after nine years with the company, following an appropriate hand-over period.
Mr Naude joined DRA as a senior executive in 2013 and is its longest-serving director, serving as interim CEO in 2016 and as Managing Director and CEO since 2019.
His notable legacy in DRA is his key role in leading the company’s international expansion from South Africa and oversaw its transformation into a global mining services business operating on five continents with annual revenue exceeding $1 billion.
Mr Naude was also central in getting DRA listed on the ASX and the Johannesburg Securities Exchange, creating a platform for further growth and long-term value realisation, bringing to fruition the final milestone in DRA’s growth strategy set in 2016.
“I am proud to say that everything we set out to achieve in 2016 has been achieved,” Mr Naude said.
“As a long-term shareholder and a strong believer in DRA’s future and the quality of its people, I believe that DRA is ready for a new CEO to take us through the next phase of operations.”
DRA has commenced its search for a successor and will identify internal and external candidates for its permanent CEO position.
The board has identified James Smith, a senior executive who has been with DRA since 2017 and is a current member of the global leadership team, to take over as interim CEO effective from the annual general meeting to be held on May 17.
The handover to Mr Smith will begin immediately, and the terms of his interim appointment will be disclosed before it takes effect.
DRA has also undertaken an assessment of the most appropriate operating model to underpin the delivery of DRA’s next phase of strategic objectives.
DRA shares held steady at $2.76 at the end of the trading day.