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Geoff Plummer will leave his role as its ceo next year, it said.

Arrium said it had begun a succession plan under which Plummer would stay with the company until the end of 2013, if necessary, while a successor is found.

Plummer has been ceo of Arrium, formerly known as Onesteel, for nine years.

“The timeframe provides a natural conclusion to Geoff’s term which began with Project Magnet and the initial move into the export iron ore market.

“It will conclude with the ramp-up of the iron ore expansion, the further consolidation of the mining consumables business and will also have seen significant restructuring of the steel and recycling businesses," chairman Peter Smedley said.