Noranda (NRD-T) said on Tuesday, that while its chief financial officer was retiring, he would remain on to help with the financing of Falconbridge‘s (FL-T) advanced Koniambo nickel-laterite project in New Caledonia.
Lars-Eric Johansson had been filling the post on an interim basis during the hunt for a replacement for Aaron Regent, who left the seat to replace Derek Pannell as Falconbridge’s president in 2002. Regent had been Noranda’s chief financial officer.
Over the last 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. Mr. 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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