Long-standing Bluescope Steel CEO Paul O'Malley will retire at the end of 2017, handing over a decade-long leadership of the rejuvenated metals group to current Australia-New Zealand boss Mark Vassella.
Bluescope announced on Monday that Mr O'Malley will retire on December 31, ending a 10-year innings as CEO and managing director and a 12-year stint at the company.
Mr O'Malley said he was sad to be leaving a "superb team" but was pleased by the company's decision to appoint Mr Vasella as chief executive.
"Working with the entire BlueScope team and being so well supported throughout by such a strong board has been the greatest honour of my professional career," Mr O'Malley said on Monday.
Mr Vassella, who started in the steel industry as a cadet at the then-BHP's Newcastle operations in the 1980s, was chosen after an international and domestic search from what the company described as "a very strong internal pool".
Chairman John Bevan said Mr Vasella has led the Australian and New Zealand arm through a major restructure of the business and has run all of Bluescope's buildings businesses in North America.
"He has delivered outstanding performance and will make a significant contribution as global leader of this great company," Mr Bevan said.
"Bluescope is in a very good position and the board is confident in the strength of the internal management capability to take advantage of the opportunities ahead."
