Noranda’s CFO retires

Noranda‘s (NRD-T) chief financial officer, Lars-Eric Johansson, has retired after 14 years of service.

Johansson will remain with the company to help with the financing of Falconbridge‘s (FL-T) Koniambo nickel-laterite project in New Caledonia.

Johansson had been filling the post on an interim basis during the search for a replacement for Aaron Regent, who left the seat to replace Derek Pannell as president of Falconbridge in 2002.

Over the past year and a half, Johansson led Noranda’s recapitalization program, which included raising about $1 billion to trim the company’s debt-laden balance sheet.

Steven Douglas, who was executive vice-president and chief financial officer of real estate company Brookfield Properties, will replace Johansson. Douglas also briefly worked for Kidd Creek.

Falconbridge is 59.5%-owned by Noranda. Noranda and Brookfield both fall under the Brascan umbrella of companies.

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