Board of Directors
The Boart Longyear Board of Directors bring a wealth of diverse experience from the mining sector and other industries, and are tasked to grow and lead the business into the future.
Marcus Randolph was appointed a Director of the Company on 23 February 2015, where he will serve as its new Chair. Mr Randolph has served more than 35 years in the mining industry in a variety of global, senior executive roles. Most recently, he was Chief Executive of BHP Billiton’s Ferrous and Coal business from July 2007 to September 2013, located in Melbourne, and was a member of BHP’s Group Management Committee.
Prior to that role, he also held several other senior executive roles at BHP, including as its Chief Organization Development Officer, President Diamonds and Specialty Products, Chief Development Officer Minerals and Chief Strategic Officer Minerals. His earlier career includes Chief Executive Officer, First Dynasty Mines, Mining and Minerals Executive, Rio Tinto Plc, Director of Acquisitions and Strategy, Kennecott Inc, General Manager Corporacion Minera Nor Peru, Asarco Inc, and various mine operating positions in the US with Asarco Inc.
Mr Randolph holds a Bachelor of Sciences degree in Mining Engineering from the Colorado School of Mines in the United States and also holds a Masters in Business Administration from Harvard University.
Mr. Olsen was appointed President and Chief Executive Officer on March 1, 2016 after serving as Chief Financial Officer since 2014. Before joining Boart Longyear, he served as Chief Commercial Officer for Rio Tinto’s Iron & Titanium business since 2010. Prior to that time, he was Chief Financial Officer for Rio Tinto’s Borax and Minerals divisions for approximately eight years, and held other financial roles at Rio Tinto for another six years earlier in his career. Mr. Olsen’s experience also includes financial roles at General Chemical Corporation and Xerox Corporation in the United States.
Mr. Olsen holds a Bachelor’s of Arts from the University of Utah and a Masters of Business from the Simon School of Business at the University of Rochester.
Bret Clayton was appointed a Director of the Company on 23 February 2015. Mr Clayton joins us after a distinguished career at Rio Tinto, where he worked for 20 years and served on the Executive Committee for seven years. He joined the Rio Tinto in 1994 and held a series of management positions, including chief executive of Rio Tinto’s global Copper and Diamonds groups, president and chief executive officer of Rio Tinto Energy America (now Cloud Peak Energy) and chief financial officer of Rio Tinto Iron Ore. He also served as the Group Executive for Business Support and Operations, which included Rio Tinto’s global exploration, procurement, information systems, shared services, internal audit, risk management and economics groups.
Prior to joining Rio Tinto, Mr Clayton worked for PricewaterhouseCoopers for nine years, providing auditing and consulting services to the mining industry. Mr. Clayton also has served as a nonexecutive director for several for-profit and non-profit entities, including Praxair, Constellium Holdco B.V. and Ivanhoe Mines Limited (now Turquoise Hills Resources).
Mr Clayton was a member of the U. S. American Institute of Certified Public Accountants and holds a Bachelor of Arts Degree in Accounting from the University of Utah. He also attended the International Executive Management Program of INSEAD in Fontainebleau, France.
W. Peter Day
W. Peter Day was appointed a Director on 25 February 2014. Mr Day is a non-executive director and is a member of the Audit, Compliance and Risk Committee. Mr Day’s professional career includes senior executive roles in finance and general management in mining, manufacturing, food and financial services industries at companies including Bonlac Foods, Rio Tinto, CRA Limited and Comalco. He was Chief Financial Officer for Amcor for seven years until 2007.
Mr Day is a former Chairman of the Australian Accounting Standards Board and was Deputy Chairman of the Australian Securities & Investments Commission. He currently is a non-executive director of several ASX-listed companies, including Alumina, Ansell and SAI Global and is a member of the Takeovers Panel. He also participates in a number of public interest activities.
Mr Day’s educational background includes a Bachelor of Laws LLB (Hons) from Queen Victoria University in Manchester, England, and a Master of Administration from Monash University in Melbourne. He holds dual nationality in Australia and the United Kingdom and resides in Victoria.
On January 20, 2016, the Company’s Board welcomed Mr Tochilin back as one of Centerbridge Partners LP’s nominee directors. He previously served as a Company director from December 2014 to September 2015 and was instrumental in the Company’s Centerbridge-led recapitalisation in January 2015.
Mr. Tochilin has served as a Principal at Centerbridge since 2013. Prior to his employment with Centerbridge, he was an Associate at TPG-Axon Capital Management in New York and London and a Business Analyst in McKinsey’s Corporate Finance Practice in New York. He holds an A.B. in Economics and Philosophy, magna cum laude, from Harvard College, where he was elected to Phi Beta Kappa, a J.D. from Harvard Law School, and an M.B.A. from Harvard Business School.
Mr Long brings a wealth of operational experience to the Board. He currently serves as Chief Executive Officer of Penhall Company, a Centerbridge Partners portfolio company and North America’s largest provider of concrete cutting, coring and removal services. He also was employed by Centerbridge Partners as Senior Managing Director from 2010 to 2015, where he focused on improving portfolio company operations. Prior to joining Centerbridge, Mr Long was a Managing Director at Vestar Capital Partners from 2005 to 2010 and a Principal at McKinsey and Company from 1993 to 2005, where he similarly focused on assisting companies in a diverse range of industries drive operational improvements.
A graduate of the United States Military Academy at West Point, Mr Long also served as a Cavalry Officer in the US Army for fourteen years. He holds Masters degrees from Harvard University’s John F. Kennedy School of Government and the US Army’s Command and General Staff College.
Gretchen W. McClain
Gretchen W. McClain has more than 25 years of global experience in both Fortune 500 corporations and government service, including serving as founding CEO of an S&P 500 global water technology company, Xylem Inc., and NASA’s Chief Director of the International Space Station, McClain brings extensive business, developmental, strategic and technical expertise. Her distinctive leadership approach – focused on helping companies break down internal barriers to identify new ways to create value and integrate technologies – enables organizations to unlock growth and gain critical competitive advantage.
McClain is actively involved in advocating for, and shaping the debate within, the technology, water and environmental spheres. She serves as a member of United Technologies Corporation (UTC) Innovation Advisory Council; University of Utah College of Engineering National Advisory Council; the Environment and Water Technologies International Advisory Panel (EWT IAP) for Singapore’s Public Utilities Board (PUB); and the America’s Water Steering committee at the Columbia Water Center, part of the Earth Institute at Columbia University.
She graduated from the University of Utah with a Bachelor of Science in Mechanical Engineering and received the University’s prestigious Founders Award in 2015.
Rex McLennan was appointed a Director of the Company 24 August 2013.
Mr McLennan is a non-executive director and chairs the audit committee for Endeavour Silver Corporation (Toronto Stock Exchange and New York Stock Exchange).
Mr McLennan is a seasoned financial executive with over 30 years of progressive leadership experience in large, complex, multinational resource based companies where his responsibilities have included financial planning, administration and reporting, treasury operations, enterprise risk management, investor relations, internal audit, IT Systems and taxation functions.
For the past five years Mr McLennan served as Chief Financial Officer of Viterra Inc. (VT:TSX), a leading global agricultural products company primarily involved in the distribution, marketing and processing of grain and oilseeds with annual sales of over $11 billion, market capitalization of about $6 billion and over eight thousand employees worldwide. Viterra was acquired in December 2012 by Glencore International, and Mr Mclennan completed his role as CFO at that time.
Mr Mclennan also has significant experience in the energy resources industry, having held progressive leadership roles earlier in his career at Imperial Oil Limited, Exxon’s Canadian public oil company. His professional career also includes senior executive finance roles in the resources and other industries, including serving as Executive Vice President and Chief Financial Officer for major gold producer Placer Dome, Inc. prior to its acquisition by Barrick Gold Company. He subsequently held the same role with the Vancouver Organizing Committee (VANOC) for the 2010 Olympic Winter Games where he led and successfully completed the development of the 2010 games operations budget, risk management and related financial functions.
Mr McLennan holds a Master of Business Administration from McGill University in Finance/Accounting, and a Bachelor of Science in Mathematics/Economics from the University of British Columbia. He is also a member of Financial Executives International (FEI) and the Institute of Corporate Directors (ICD) as a recent graduate of the Director’s Education Program, University of Toronto, Rotman School of Business.
Ms O’Toole brings hands-on experience with major business transformations to the Board in addition to significant business development and financial skills. She served as the Chief Financial Officer and Executive Vice President of Aurizon Holdings Limited (QR Limited) from 2007 through 2012. Prior to that time, she was at Queensland Cotton Holdings from 2003 to 2005, where she held roles as Chief Financial Officer and Head of the Business Development Unit. Ms. O’Toole also has nearly twenty years of experience in the mining industry, having …held a number of senior management positions with MIM Holdings, including as its Chief Financial Officer, from 1982 through 2001.
Ms O’Toole currently is an independent Non-Executive Director at Credit Union Australia Limited and Sims Metal Management Limited. She has held several other independent directorships during her career and is a Member of the Australian Institute of Company Directors. She holds a Bachelor of Laws from the University of Queensland and was admitted as a Solicitor of the Supreme Court of Queensland in 1981.