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Fri 28 Sep 2012 09:56 AM

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Bahrain's Alba appoints new CEO

Former finance officer Tim Murray chosen to lead owner of world's fourth largest smelter

Bahrain's Alba appoints new CEO
Tim Murray, Albas new CEO

Aluminium Bahrain, which owns the world's fourth-largest aluminium smelter, has named Tim Murray as its new chief executive officer.

Murray, who previously served as Alba's chief finance and supply officer, will succeed Laurent Schmitt from October 1, the company said in a statement.

Schmitt, who took up the CEO position in January 2010, is leaving to take up an advisor role in developing Bahrain's downstream aluminium industry.

In July, Aluminium Bahrain posted net profits of $95m for the second quarter of 2012, down from $185m in the same period last year.

The company said its performance had been impacted by lower London Metal Exchange prices and higher gas costs.

Aluminium prices on the London Metal Exchange dipped close to $600 a tonne when compared with the same period last year, according to the company.

Alba’s chairman, Mahmood Hashim Al Kooheji, said in a statement that aluminium demand was still healthy despite global economic uncertainty.