In the course of two months, North American Palladium (NYSEMKT: PAL ) has given itself a whole new upper echelon management team. In January, the precious metals miner appointed Dave Langille to the position of Chief Financial Officer. Thursday, the company chose a new Chief Executive Officer, as well.
Effective March 25, 2013, Phil du Toit will shift from his recent job as Executive Vice President and Head of Mining Projects and Exploration for steelmaker ArcelorMittal to assume the posts of President and CEO at NAP. He will take the place of André Douchane, who has been serving as interim CEO these past several months.
North American Palladium shares, which had traded flat at $1.43 prior to the announcement, reacted positively to this news in the after-hours, gaining 2.8%.