23 OCTOBER 2025
Our Chair, Karen Wood AM, will retire from the South32 Board in February 2026. Following a formal succession process, the Board has elected Stephen Pearce to succeed Ms Wood as Chair.
Mr Pearce has been an independent Non-Executive Director on the Board since February 2025.
Ms Wood joined the Board as an independent Non-Executive Director in November 2017 and has been a member of the Board’s Remuneration Committee, Sustainability Committee and Nomination and Governance Committee.
She was elected Chair in 2019. Ms Wood has provided exceptional leadership and strategic oversight of South32’s portfolio transformation and approach to sustainability.
The timing of the Chair succession will allow Mr Pearce to work with the Chief Executive Officer (CEO), Graham Kerr, through 2026 until he steps down from the role later that year.
South32 Chair Karen Wood said “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. I am incredibly proud of the work we have done to deliver on our strategy and create enduring social, environmental and economic value.
“We recognise the challenge our industry faces in supplying minerals and metals critical to the world’s energy transition and doing so in a way that leaves a positive legacy. We’ve confronted this challenge by repositioning our portfolio towards these commodities which will be essential as we move to a low-carbon future.
“Stephen’s appointment to the role of Chair in February 2026 gives him the opportunity to work with Graham and then oversee the CEO transition when it occurs. I have no doubt this continuity and collaboration will serve South32 well.
“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.”
Chair-elect Stephen Pearce said “It is an honour to be appointed Chair. I admire the tremendous work Karen has done with the Board and Lead Team to substantially reposition South32 and capitalise on the increasing demand for base metals.
“We have been fortunate to benefit from Karen’s wealth of knowledge, strong governance and purpose-driven approach. Under her leadership, South32 is well placed for the future.
“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."