May 19, 2020

North American Palladium sold for $1bn to Impala Palladium

mining
palladium
Impala Palladium Holdings
North American Palladium
pauline cameron
2 min
North American Palladium sold for $1bn to Impala Palladium

Impala Palladium Holdings makes its first acquisition outside of Africa with a $1bn buy out of precious metal miner, North American Palladium

Impala Platinum Holdings ltd (Implats), based in South Africa, said on 7 October that it would buy North American Palladium Ltd, based in Canada for CA$1bn. The deal will be the first time Implats have made an acquisition outside of Africa.

Palladium is largely used in vehicle exhausts as a catalyst for the reduction and oxidisation of carbon emissions. The quantity used by the motor industry has vastly increased as rising pressure for manufacturers to meet stricter environmental regulations, mounts.

The deal has come as this driven demand has seen the price of Palladium increase to an all time high. Even as global sales of fossil fuelled vehicles decline, the expected shift towards tighter environmental regulations has seen the price rise to a record CA$2127 per ounce, a higher value than gold.

“(The acquisition) not only signals our confidence in the prevailing platinum group metals (PGM) market but it also expedites our transition to a high-level multinational producer,” Implats Chief Executive Officer Nick Muller said on a media call.

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Implats pursued North American Palladium for three years before the deal was secured. The agreement adds the Lac de Iles Mine in Thunder Bay, Ontario to the portfolio of Implats.

“It provides us with access to a well-established operational asset that employs bulk mining methods and occupies an attractive position on the industry cost curve,” Muller said.

Brookfield Business Partners LP will see a C$16 per share for the 81% of North American Palladium owned through the investment manager and its partners. Other partners involved in the Canadian company will be paid what the stock traded at on Friday’s closing, which will be CA$19.74 per share.

David Stewart, an analyst at GMP securities claimed that the North American Palladium was being acquired for a “steep discount” but as Brookfields approved the deal with 81% stake in the company, minority share holders will have less of a say.

Stewart explains, “Our disappointment stems not only from the implied 15 per cent discount but also from the timing.”

The deal is set to close by the end of 2019 but may spill over in early January 2020.

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Jun 13, 2021

Marketing matters: from IBM to Kyndryl

CMO
Kyndryl
IBM
Leadership
Kate Birch
5 min
Former CMO for IBM Americas Maria Bartolome Winans was recently named CMO for Kyndryl. Maria talks about her new role and her leadership style

Former Chief Marketing Officer for IBM Americas, and an IBM veteran of more than 25 years, Maria Bartolome Winans was recently named CMO for Kyndryl.

Prior to joining Kyndryl as Chief Marketing Officer, Maria had a 25-year career at IBM, most recently as the tech giant’s CMO where she oversaw all marketing professionals and activities across North America, Canada and Latin America. She has held senior global marketing positions in a variety of disciplines and business units across IBM, most notably strategic initiatives in Smarter Cities and Watson Customer Engagement, as well as leading teams in services, business analytics, and mobile and industry solutions. She is known for her work with teams to leverage data, analytics and cloud technologies to build deeper engagements with customers and partners.

With a passion for marketing, business and people, and a recognized expert in data-driven marketing and brand engagement, Maria talks to Business Chief about her new role, her leadership style and what success means to her.

You've recently moved from IBM to Kyndryl, joining as CMO. Tell us about this exciting new role?

I’m Chief Marketing Officer for Kyndryl, the independent company that will be created following the separation from IBM of its Managed Infrastructure Services business, expected to occur by the end of 2021. My role is to plan, develop, and execute Kyndryl's marketing and advertising initiatives. This includes building a company culture and brand identity on which we base our marketing and advertising strategy.

We have an amazing opportunity ahead at Kyndryl to create a company brand that will stand apart in the market by leading with our people first. Once we are an independent company, each Kyndryl employee will advance the vital systems that power human progress. Our people are devoted, restless, empathetic, and anticipatory – key qualities needed as we build on existing customer relationships and cultivate new ones. Our people are at the heart of this business and I am deeply hopeful and excited for our future.

What experiences have helped prepare you for this new opportunity?

I’ve had a very rich and diverse career history at IBM that has lasted 25+ years. I started out in sales but landed explored opportunities at IBM in different roles, business units, geographies, and functions. Marketing and business are my passions and I landed on Marketing because it allowed me to utilize both my left and right brain, bringing together art and science. In college, I was no tonly a business major, but an art major. I love marketing because I can leverage my extensive knowledge of business, while also being able to think openly and creatively.

The opportunities I was given during my time at IBM and my natural curiosity have led me to the path I’m on now and there’s no better next career step than a once-in-a-lifetime-opportunity to help launch a company. The core of my role at Kyndryl is to create a culture centered on our people and growing up in my career at IBM has allowed me to see first-hand how to prioritize people and ensure they are at the heart of progress in everything Kyndryl will do.

How would you describe your leadership style?

I believe that people aren't your greatest assets, they are your only assets. My platform and background for leadership has always been grounded in authenticity to who I am and centered on diversity and inclusion. I immigrated to the US from Chile when I was 10 years old and so I know the power and beauty that comes from leaning into what makes you different from other people, and that's what I want every person in my marketing organization to feel – the value in bringing their most authentic self to work every day. The way our employees feel when they show up for themselves authentically is how they will also show up for our customers, and strong relationships drive growth.

I think this is especially true in light of a world forever changed by the pandemic. Living through such an unprecedented time has reinforced that we are all humans. We can't lead or care for one another without empathy and I think leaders everywhere have been reminded of this.

What’s the best leadership advice you’ve received?

When I was growing up as an immigrant in North Carolina, I often wanted to be just like everyone else. But my mother always told me: Be unique, be memorable – you have an authentic view and experience of the world that no one else will ever have, so don't try to be anyone else but you.

What does success look like to you?

I think the concept of success is multi-faceted. From a career perspective, being in a job where you're respected and appreciated, and where you can see how your contributions are providing value by motivating your teams to be better – that's success! From a personal perspective, there is no greater accomplishment than investing in the next generation. I love mentoring younger professionals – they are the future. I want my legacy as a leader to include providing value in work culture, but also in leaving a personal impact on the lives of professionals who will carry the workforce forward. Finding a position in life with a job and company that offers me a chance at all of that is what success looks like to me.

What advice would you give to your younger self just starting out in the industry?

I've always been a naturally curious person and it's easy for me to over-commit to projects that pique my interest. I've learned over years of practice how to manage that, so to my younger self I’d say… prioritize the things that are most important, and then become amazing at those things.

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