Summary
Southern Copper Corporation (SCCO) has filed an 8-K report to announce a significant executive change. Jose de los Heros Ugarte, Vice President of Commercial and a Named Executive Officer, will be resigning from his position effective August 10, 2012. Mr. Ugarte has been with the company for 29 years, holding various roles since 1983 and leading global commercial operations. While his departure marks the end of a long tenure, the company has stated that his resignation is for personal reasons to pursue other professional opportunities and that there were no disagreements with management. Investors should note this change in leadership for the commercial division, a key area for a commodity producer like Southern Copper, as the company transitions to new management in this crucial function.
Key Highlights
- 1Resignation of Jose de los Heros Ugarte, Vice President, Commercial and Named Executive Officer, effective August 10, 2012.
- 2Mr. Ugarte has a long tenure of 29 years with Southern Copper, serving since 1983.
- 3He was responsible for the company's worldwide commercial operations.
- 4The resignation is attributed to pursuing other professional opportunities.
- 5There were no disagreements between Mr. Ugarte and the Company or management.
- 6The Company expressed gratitude for Mr. Ugarte's 29 years of service.