Brian Schweitzer, the recently retired two-term governor of Montana, has been elected Stillwater Mining's (NYSE: SWC ) chairman of the board, the company announced today. Schweitzer was initially elected to Stillwater Mining's board on May 2 at its annual shareholder meeting, and he will replace outgoing board Chairman and CEO Frank McAllister.
McAllister acted as both chairman and CEO of Stillwater since 2001, and he will retain his CEO position until a "suitable candidate" is found to succeed him.
Regarding his new role as chairman, Schweitzer commented, "Together with the company's dedicated and outstanding Montana-based workforce, I believe the company's prospects for the future are exceptionally bright."
In response to the change of leadership at Stillwater, McAllister said, "I look forward to working with the governor and the new board as we complete this leadership transition."