Mineral Resources (MinRes) has appointed Malcolm Bundey, a veteran from the packaging sector, as its new chairman. This move comes as the company seeks to repair its image following a series of controversies surrounding its founder, Chris Ellison. Bundey’s appointment signals a shift towards greater corporate governance and an effort to regain investor trust.
Bundey, an industry outsider, brings a fresh perspective to MinRes, which has faced criticism over its environmental practices and executive compensation. His experience in the packaging industry, where sustainability and ethical sourcing are increasingly important, could help MinRes address concerns about its environmental impact. Investors will be watching closely to see how Bundey steers the company through these challenges and whether he can restore confidence in MinRes’s long-term prospects. This change occurs as the ASX experiences a slight downturn, influenced by Moody’s US credit downgrade, adding further pressure on MinRes to stabilize its position.
