Stillwater Mining (NYSE:SWC) is now on the hunt for a new chief executive. The company announced that its current CEO, Frank McAllister, is to retire. His replacement, on an interim basis, is Terrell Ackerman, the firm's vice president of corporate development.

McAllister served for over a decade in his job. He began at the firm as CEO, joining it in early 2001 while concurrently serving as board chairman. Among other milestones, Stillwater stock listed on the New York Stock Exchange during his tenure.

Interim CEO Ackerman is also a longtime veteran of the company, having occupied several executive positions since joining it as director of corporate planning in 2000.