South32 Names Matthew Daley as Next CEO in Strategic Leadership Shift
South32 has announced a planned CEO transition with Matthew Daley joining as Deputy CEO in February 2026 and succeeding Graham Kerr later that year, marking a new chapter for the mining giant.
- Matthew Daley appointed Deputy CEO, to become CEO in 2026
- Daley brings 20+ years of global mining and operational leadership
- Graham Kerr to lead transition and step down after a decade at helm
- Daley’s remuneration includes A$2 million salary plus incentives
- Shareholder approval pending for key equity-based commencement benefits
Leadership Transition Announced
South32 Limited, a diversified mining company listed on the ASX, LSE, and JSE, has revealed a carefully planned CEO succession. Matthew Daley will join as Deputy Chief Executive Officer on 2 February 2026 and will take over as CEO later that year when current CEO Graham Kerr steps down. This transition follows a comprehensive global search, underscoring the board’s commitment to continuity and strategic renewal.
A Proven Leader with Global Mining Expertise
Daley arrives from Anglo American plc, where he serves as Technical and Operations Director and is part of the executive leadership team. His career spans over two decades across major mining companies including Glencore, Xstrata, and Minera Alumbrera. His experience covers underground and open cut mining, smelting, refining, projects, and commodity trading, with leadership roles in multiple continents. This breadth of expertise positions him well to steer South32 through its next phase.
Legacy of Graham Kerr and the Path Forward
Graham Kerr, South32’s inaugural CEO, has led the company since its demerger from BHP in 2015. Under his stewardship, South32 has transformed its portfolio, built a strong leadership culture, and maintained a disciplined approach to capital and cost management. Kerr’s focus on safety has driven a multi-year improvement program that remains central to the company’s operations. He will remain at the helm through the transition, ensuring a smooth handover.
Remuneration and Shareholder Approval
Daley’s employment terms reflect his anticipated CEO role, with a fixed salary of A$2 million plus superannuation, a short-term incentive target of 120% of salary, and a long-term incentive opportunity valued at 200% of salary. Additionally, he will receive commencement benefits to compensate for forfeited entitlements from his previous employer, including a cash payment and equity rights, subject to shareholder approval at the 2025 Annual General Meeting. These arrangements align with South32’s executive reward framework and underscore the board’s confidence in Daley’s leadership.
Strategic Implications
South32’s portfolio is well positioned for growth, with a focus on minerals critical to the global energy transition. Daley’s operational expertise, particularly in copper and the Americas, complements the company’s strategic direction. His relocation from the UK to Australia signals a commitment to South32’s global operations and stakeholder engagement. The transition period will allow Daley to familiarize himself with the company’s people, assets, and communities before assuming full leadership.
Bottom Line?
As South32 prepares for this leadership handover, investors will watch closely how Daley’s fresh perspective shapes the company’s next decade.
Questions in the middle?
- How will Matthew Daley’s leadership style influence South32’s strategic priorities?
- What impact will the CEO transition have on South32’s ongoing safety and portfolio transformation programs?
- Will shareholder approval for Daley’s equity-based commencement benefits proceed smoothly at the AGM?
