Former Woodside, Exxon executive Peter Coleman tapped to lead lithium miner Allkem
Peter Coleman will oversee the global lithium company’s plan to treble its production and capitalise on demand for electric vehicles.
Energy executive Peter Coleman will oversee global lithium company Allkem’s ambitious plan to triple production within four years after being named chairman of the consolidated company.
The former Woodside Energy chief executive officer joins Allkem as a director, effective immediately, and will takeover as chairman from Martin Rowley, who will retire from the board at the end of the company’s November 15 annual general meeting.
Mr Coleman’s appointment comes almost one year after Orocobre and Galaxy Resources were merged to create Allkem, and the consolidated company has positioned itself for significant growth.
Allkem plans to triple its production output by 2026, while protecting its 10 per cent market share, as the lithium industry grows on the back of increasing purchases of electric vehicles.
Mr Rowley praised the appointment of Mr Coleman, declaring the former Woodside executive and ExxonMobil vice president was “ideally suited” to take the reins.
“Peter is an outstanding successor to the Allkem chair, having demonstrated throughout his career the attributes necessary to guide Allkem through its next growth phase,” Mr Rowley said.
“He is ideally suited to lead the company’s successful delivery of its strategy to triple production by 2026 and maintain at least 10 per cent of global market share in the medium term.”
Mr Coleman, who retired as Woodside Energy chief in June 2021 after 10 years in the role, said his focus would be to build on Allkem’s success.
“I am very pleased to be joining a company with such an outstanding portfolio of operating and development assets, and that operates with such a strong commitment to sustainability and shared value for all stakeholders,” he said.
Surging lithium prices and the successful merger of Orocobre and Galaxy Resources helped Allkem deliver a net profit after tax of $US337.2m ($524.6m) in the 2022 financial year, reversing a net loss of $US89.5m in the previous period.
Prior to joining Woodside, Mr Coleman spent 27 years with the ExxonMobil group in a variety of roles, including as vice president for the Asia Pacific and Americas.
He is currently a non-executive director of NYSE-listed Schlumberger and chair of the unlisted hydrogen renewable company, Infinite Green Energy.
Mr Coleman is also the chair of hydrogen start-up H2EX, and DIRECT Infrastructure – an unlisted offshore wind developer.
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