Here’s why IGO’s (ASX:IGO) shares slipped nearly 5% today

2 min read | October 16, 2022 06:22 PM PDT | By Ritwika

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Here’s why IGO’s (ASX:IGO) shares slipped nearly 5% today — Image source: © Milslav78 | Megapixl.com

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Highlights:

IGO’s Managing Director and CEO, Peter Bradford, passed away on 15 October.

IGO’s shares were spotted trading 4.765% lower on ASX at 11:15 AM AEDT today.

Australian exploration and mining company IGO Limited (ASX:IGO) on Monday announced that its managing director and Chief Executive Officer (CEO), passed away on Saturday (15 October 2022).

Followed by this update, IGO’s shares were spotted trading on a weak note on Monday morning. IGO’s share price declined 4.765% on ASX to AU$14.590 per share at 11:15 AM AEDT today (17 October 2022).

IGO described Peter as an ‘inspirational leader’. “IGO wishes to express its deepest sympathy to Peter’s family and friends. He will be dearly missed,” the company said in a statement.

The company also mentioned that Peter was also highly passionate about climate change and the role of the mining industry towards a clean energy future.

Peter was also the president of AMEC, an active mentor for Women in Western Australia (WIMWA) and a former mining club committee Vice President and member in Western Australia.

IGO’s board has appointed Matt Dusci as acting CEO, effective immediately as the company conducts a formal search for a permanent CEO.

Continuity of IGO’s business

The board of IGO has appointed Matt Dusci as the new chief executive officer (CEO) of the company, effective immediately. Matt holds more than 25 years of experience in the mining sector. He will initially be supported by IGO’s executive leadership team and the broader IGO leadership group to carry out his responsibilities as a CEO. Meanwhile, Matt will also conduct the formal search process to hire a permanent CEO for the company.

Michael Nossal, Non-executive Chair, IGO Limited, said:

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