.jpg)
The London Metal Exchange has today confirmed that John Crofts has been appointed as Invited Director on the Board of London Metal Exchange Ltd.
John Crofts will replace Art Miele who retired from the Board on 4 January 2007 and who had been an Invited Director since 1997. Commenting on the appointment, Donald Brydon, Chairman said:
“John Crofts brings an extensive and wide ranging knowledge of many metals and all aspects of the international physical metals industry. His participation in the Board further augments the already strong skills and ensures that the LME continues to represent the important constituents of the physical industry that we serve.
“Art Miele was a long-serving member of the Board who generously shared his time, experience and knowledge for the benefit of those that the LME provides service to. We thank him for his contribution and wish him well for his retirement.”
Background
1. Mr Crofts is currently Marketing Director, Base Metals for BHP Billiton and has over 20 years experience of the Base Metals industry, having held a variety of senior positions within BHP Billiton and Minera Escondida Ltda. He holds a number of non-executive directorships including Olympic Dam Marketing Ltd and the European Copper Institute (ECI). He also holds a seat on the Advisory Committee of the International Copper Association (ICA) and is a past Chairman of the ECI (2005-6) and the ICA’s Asian Copper Council (2003-5).
2. The appointment is effective from 26 March 2007.
3. A full list of all LME Board members is available on www.lme.com
4. The LME is the world’s premier non-ferrous metals market and achieved volumes of 87 million lots in 2006, an increase of 10.6% on 2005 figures and equivalent to $8,100 billion in monetary terms.
5. The LME is a demutualised, shareholder-owned organisation that operates a model in which fees are kept to a minimum and all surpluses are rebated to shareholders.
