Molycorp, (NYSE:MCP) the US rare earths producer, said Tuesday that Chief Operating Officer Geoff Bedford will take over as CEO on Dec. 2, Reuters reported.
As quoted in the market news:
Constantine Karayannopoulos will continue as interim CEO until Bedford assumes the role, Molycorp said.
Karayannopoulos, who has held the role since last December, will continue as a director and vice chairman.
Both Karayannopoulos and Bedford previously served at Neo Material Technologies, which Molycorp acquired last June, making it the only major North American player which can both mine and process rare earth metal.