Lycopodium names new MD

Rodney Leonard has stepped down from his position as managing director of engineerig company Lycopodium, with existing board member Peter De Leo taking on the role.

The leadership changes were announced at Lycopodium’s annual general meeting today.

Mr De Leo has been with the company since 1994 and has served as a director since 2001.

He will leave his position as managing director of Lycopodium’s minerals division, with that role to be filled by Mr Leonard.

“Rod, when he took up the position in 2010, advised that he saw it as a five-year term and the board has planned for this changeover from the beginning,” the company said in a statement.

“He remained in the role past his target date to complete a strategy put in place during the downturn and to arrive at an appropriate point to handover.”

Lycopodium said Mr De Leo left the minerals division with the team, the systems, procedures and the credibility to undertake both large and small projects across a range of commodities and regions.

“His understanding of the business is extensive and he has the confidence and support of the board in undertaking the new role,” it said.

Lycopodium shares closed 0.3 per cent lower to $1.25 each.