South32 has announced that its chair, Karen Wood, will retire from the board in February 2026, marking the end of a near-decade long tenure at the company which has undergone significant transformation.
Following a formal succession process, the board has elected Stephen Pearce to succeed Wood as chair.
Pearce has served as an independent non-executive director since February 2025 and brings extensive financial and industry experience to the role.
Wood joined the South32 board in 2017 and was elected chair in 2019, overseeing major portfolio changes and advancing the company’s sustainability strategy.
“It has been a great privilege to lead the board of South32 since 2019 and to have guided the company’s transformation over the past eight years,” Wood said. “I am incredibly proud of the work we have done to deliver on our strategy and create enduring social, environmental and economic value.”
She said the company has confronted the challenge of supplying critical minerals for the world’s energy transition by repositioning its portfolio towards these commodities.
The planned transition allows Pearce to work closely with chief executive officer Graham Kerr throughout 2026 before Kerr’s anticipated step-down later that year.
“Stephen’s extensive financial and commercial acumen, combined with his strong leadership and industry experience, makes him the right person to lead the board as South32 enters its second decade,” Wood said. “I have no doubt this continuity and collaboration will serve South32 well.”
Pearce said he was honoured to take on the position, commending Wood’s tremendous work in repositioning South32 for growth.
“Under her leadership, South32 is well placed for the future,” he said. “I look forward to working with the board and the lead team as we continue to sustainably reshape our business and work to discover our next generation of base metals mines.”
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