MILLING ABOUT: Eger joins Nyrstar as Eigner steps down

Chris Eger, previously M&A director at Trafigura, is replacing Heinz Eigner as Nyrstar cfo, effective immediately.

Chris Eger, previously M&A director at Trafigura, is replacing Heinz Eigner as Nyrstar cfo, effective immediately.

Eigner is leaving to pursue other opportunities, according to the zinc producer, but will remain with the company until December.

Eigner joined Nyrstar as cfo when it was founded in 2007, and was acting ceo between Roland Junck’s departure and the appointment of Bill Scotting.

“This was an evolution of discussions over time,” a spokesman for the zinc producer said. “Heinz has been with the company since the flotation, so it was unsurprising that he might want to pursue other opportunities.”

Prior to working for Trafigura, Eger was a member of the investment banking group of Bank of America Merrill Lynch, where he worked with metals and mining companies on debt and equity financing and M&A. He also worked as a director in the Global Metals and Mining Group at BMO Capital Markets. 

“I look forward to working with Chris, whose experience of finance and capital markets brings considerable additional strength to our efforts to improve the performance of Nyrstar,” Bill Scotting, ceo, said.

“I would like to personally thank Heinz for his support over the past three months as we have reviewed the business and developed our recently announced balance sheet strengthening measures. I wish him every success for the future.”

“Eger has been known to Nyrstar for some time […]  he’s not somebody who has just popped up on the radar,” a spokesman for Nyrstar told Metal Bulletin, emphasising that the producer had met Eger during his time at Bank of America Merrill Lynch and BMO Capital Markets, rather than simply as a result of its relationship with Trafigura.

“Trafigura was approached by Nyrstar in respect of the cfo position and the appointment of Chris Eger,” a spokeswoman for Trafigura said. “While we are sorry to lose him, we believe Chris will be a strong cfo due to his extensive finance background and in-depth knowledge of Nyrstar.”

Trafigura currently owns 20.02% of the zinc producer, but the companies recently became closer as the trader agreed to take up to €125 million ($134 million) of a €250-275 million rights offering from Nyrstar, which will increase its shareholding to 49.9%.

Nyrstar is holding a special and extraordinary shareholders’ meeting in Brussels on December 23 to vote on the rights offering.

Read on:
Nyrstar looks to secure concentrate supplies as it mulls mining exit
Trafigura moves closer to recapturing rights to more of Nyrstar’s zinc

James Heywood
Twitter: @jamesheywood_MB