Australia's Atlas Iron names ex-Hancock executive CEO in board overhaul By Reuters

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Australia's Atlas Iron names ex-Hancock executive CEO in board overhaul

Published Oct 15, 2018 08:43 Updated Oct 15, 2018 08:50

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Australia's Atlas Iron names ex-Hancock executive CEO in board overhaul

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Oct 15 (Reuters) - Australian Atlas Iron AGO.AX on Monday named Sanjiv Manchanda as chief executive in a board overhaul, replacing Cliff Lawrenson amid an acquisition by billionaire Gina Rinehart's Hancock Prospecting.

Manchanda has earlier served as Head of Project Development for Hancock Prospecting.

Atlas also appointed Spiro Pappas as its Chairman.

The changes in the board come as Hancock Prospecting's unit Redstone Corporation is in the process of acquiring the junior miner, having secured more than 90 per cent of Atlas shares. Atlas had endorsed a A$390 million ($277.29 million) buyout from Hancock in June. ($1 = 1.4065 Australian dollars)

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