{australien_flagge}FYI Resources (ASX: FYI; FRA: SDL) has appointed former Alcoa executive Raj Kandiah as head of commercial at FYI. Kandiah will be responsible for FYI Resources’ global high-purity alumina (HPA) growth strategy and technical product marketing in the specially created position. Kandiah was already a key contact for FYI at Alcoa Australia. The move to FYI Resources was only possible after Alcoa and FYI completely separated.
The bottom line is that the announced HPA joint venture between FYI Resources and Alcoa Ltd. famously did not materialize. There was apparently a lot of corporate politics involved on Alcoa’s part: as manager of the joint project, Alcoa had failed to deliver key milestones. In addition, Alcoa apparently ended up with a completely different development time horizon for the project than had originally been agreed. FYI Managing Director Roland Hill had to pull the cord in the spring, even though he knew that the separation from Alcoa would not be easy to communicate. Hill never left any doubt that the business case for HPA was intact. Global demand for the high-tech product is growing, and the technical feasibility of kaolin-based HPA processing was still confirmed in the most recent press release about Alcoa’s separation. The change of a former manager of Alcoa Australia to FYI now sends a strong vote of confidence to the market that FYI Resources can realize its business plan on its own in the future. The insight remains: large corporations are heavy tankers and not the best innovators.
{australien_flagge}FYI Resources (ASX: FYI; FRA: SDL) has appointed former Alcoa executive Raj Kandiah as head of commercial at FYI. Kandiah will be responsible for FYI Resources’ global high-purity alumina (HPA) growth strategy and technical product marketing in the specially created position. Kandiah was already a key contact for FYI at Alcoa Australia. The move to FYI Resources was only possible after Alcoa and FYI completely separated.
Raj Kandiah has more than 30 years of experience in senior commercial positions, most recently as Director of New Market Development at Alcoa Australia, where he explored high-purity alumina. He has also served as General Manager at Argyle Pink Diamonds, General Manager – Global Marketing (Alumina, Aluminum, Iron Ore, Coal) at Rio Tinto in Perth, and in senior positions at various Australian listed and unlisted iron ore, bauxite and steel scrap companies.
Mr. Kandiah holds a Bachelor of Science (Chemistry) from Deakin University and a Master of Business Administration (Executive) from the Australian Graduate School of Management (AGSM) and is a graduate of the Australian Institute of Company Directors (GAICD). He is currently studying for a Master of Sustainable Development at Murdoch University.
FYI Managing Director and CEO Roland Hill commented, “We welcome Raj to the FYI leadership team. With his qualifications, skills and extensive industry experience, particularly in HPA, he will add immediate and long-term value to our product marketing strategy at a time when the development of our HPA projects is entering a new phase of commercialization.”
The bottom line is that the announced HPA joint venture between FYI Resources and Alcoa Ltd. famously did not materialize. There was apparently a lot of corporate politics involved on Alcoa’s part: as manager of the joint project, Alcoa had failed to deliver key milestones. In addition, Alcoa apparently ended up with a completely different development time horizon for the project than had originally been agreed. FYI Managing Director Roland Hill had to pull the cord in the spring, even though he knew that the separation from Alcoa would not be easy to communicate. Hill never left any doubt that the business case for HPA was intact. Global demand for the high-tech product is growing, and the technical feasibility of kaolin-based HPA processing was still confirmed in the most recent press release about Alcoa’s separation. The change of a former manager of Alcoa Australia to FYI now sends a strong vote of confidence to the market that FYI Resources can realize its business plan on its own in the future. The insight remains: large corporations are heavy tankers and not the best innovators.
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