South32 Limited (ASX / LSE / JSE: S32), a globally diversified mining and metals company, announced on 12 May 2025 that Matthew Daley will join as Deputy Chief Executive Officer in February 2026. He is set to succeed current CEO Graham Kerr later in the year, marking the company’s first major leadership transition since its establishment in 2015.
The announcement follows a comprehensive global executive search led by the South32 Board and signals a new era of leadership for the company, which is focused on metals and minerals critical to the global energy transition.
Current South32 CEO Graham Kerr
Graham Kerr to Step Down After a Decade at the Helm
Graham Kerr, who has led South32 since its demerger from BHP in 2015, will step down after more than a decade of foundational leadership. Kerr played a pivotal role in shaping the company’s culture, transforming its portfolio, and driving operational discipline. He will remain CEO during the transition, guiding the company while Daley familiarises himself with its operations, people, and stakeholders.
Chair Karen Wood praised Kerr’s tenure, saying:
“As inaugural CEO, Graham has been instrumental in establishing South32’s values-based culture, building a quality leadership team, and implementing our strategy. His leadership has set a strong foundation for the company’s continued transformation.”
Kerr himself reflected on the milestone:
“It has been an honour to be part of South32 and lead the business through its first ten years. I remain focused on executing our strategy and ensuring a smooth handover.”
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Introducing Matthew Daley: A Seasoned Mining Executive
Matthew Daley will bring more than 20 years of global mining experience to the CEO role. He is currently the Technical and Operations Director at Anglo American plc and serves on its executive leadership team. His resume includes significant leadership roles at Glencore, Xstrata, and Minera Alumbrera, with expertise in operations, projects, and commodity trading across copper, base metals, and energy transition materials.
Daley holds a Bachelor of Engineering (Mining) (Hons) from the University of South Australia and is currently based in the UK, with plans to relocate to Australia in his new role.
“I am delighted to be joining South32 and look forward to working with Graham and his team. South32’s strong balance sheet, evolving portfolio, and growth options in strategic regions make this an exciting opportunity,” Daley said.
Strategic Direction and Future Outlook
South32 is undergoing a portfolio transformation aimed at aligning the company with the global shift toward clean energy and sustainability. The company operates mines across the Americas, Australia, and Southern Africa, producing commodities such as aluminium, manganese, nickel, and metallurgical coal—many of which are considered critical for the energy transition.
Under Kerr’s leadership, South32 invested in new exploration opportunities and improved safety and efficiency across its operations. With Daley’s expertise in copper and innovation in mining practices, investors are optimistic about South32’s next chapter.
The incoming CEO is expected to maintain momentum in areas such as sustainability, ESG performance, capital discipline, and long-term shareholder value creation.
Executive Compensation and Transition Details
Daley’s employment terms include an annual salary of A$2 million plus superannuation, along with performance-based short- and long-term incentives. He will also receive compensation for forfeited benefits from his previous employer, including performance rights and deferred equity—pending shareholder approval at South32’s 2025 AGM.
A six-month post-employment restraint and 12-month notice period are built into the agreement to ensure business continuity.
Market Response and Shareholder Snapshot
Investors appeared to react positively to the leadership transition, viewing it as a continuation of South32’s focus on operational strength and energy-transition alignment. The company’s stock rose A$0.080 or 2.87% on the day of the announcement to reach $2.870.
Despite a challenging year marked by commodity price pressures and market volatility, South32 remains a major player in the mining sector with a market capitalisation of $12.57 billion.
Investor’s Outlook
South32’s share price rose to $2.870 on 12 May 2025, marking a 2.87% daily gain, following the announcement of its CEO transition. Despite recent positive momentum—+1.41% over the past week and +4.74% for the month – the stock remains down -15.59% year-to-date and -21.37% over the past year. The decline reflects broader commodity market pressures and macroeconomic uncertainty impacting the resources sector. However, the market has responded optimistically to the leadership change, viewing it as a strategic move to strengthen South32’s position in critical minerals and energy transition metals. With a market cap of $12.57 billion, South32’s recovery potential may depend on sustained operational performance, favourable commodity trends, and the successful execution of its evolving portfolio strategy.
