Doray names Kelly's successor

Doray Minerals has found a permanent replacement for its recently departed managing director Allan Kelly, appointing Leigh Junk to the role with a larger base salary than his predecessor.

Mr Junk, a 2007 40under40 winner who has been serving as interim managing director since November when Mr Kelly retired, has sat on the Perth-based gold miner’s board as a non-executive director since 2011.

Prior to his tenure at Doray, he co-founded private Perth mining company Donegal Resources, which owned several nickel mines in the state.

He has also previously held board positions on local companies including Parmelia Resources, Goldfields Money and Aura Energy.

Commencing his new role today, Mr Junk will be paid a base salary of $500,000 per annum plus superannuation; that’s $25,000 more than what Mr Kelly, who founded Doray, was paid in his last year in the same role.

Mr Junk will also receive performance rights and incentives, subject to shareholder approval and milestone achievements.

“Following an extensive search process, the board has determined that Mr Junk is the most appropriate person to lead Doray as it executes its strategic plan,” the company said in a statement.

“The board would like to congratulate Mr Junk on his appointment and looks forward to working with him as the company positions itself for future growth for the benefit of all shareholders.”

Mr Junk’s appointment follows the retirement of chairman Peter Lester on Monday, to focus on his other business interests.

His replacement is yet to be found.

Doray shares were 2.2 per cent higher to 46 cents each at 10:20am.