French mining group Eramet suspends finance chief days after ousting CEO

February 6, 2026 - 23:23

The ongoing turmoil at the top of French mining group Eramet has intensified with the suspension of its Chief Financial Officer, Abel Martins-Alexandre. This move comes just days after the company's board ousted Chief Executive Paolo Castellari, signaling a profound and rapid restructuring of its executive leadership.

Martins-Alexandre, known to be a close ally of the former CEO, was placed on leave as the board initiates a formal internal audit. The review is reportedly focused on the financial communication and specific transactions that occurred during Castellari's tenure. This suggests the board's actions are part of a coordinated effort to scrutinize the previous management's strategies and decisions.

The removal of Castellari itself was a decisive action, reportedly driven by pressure from Eramet's core shareholders. These major investors had grown dissatisfied with the company's direction and operational performance under his leadership. The simultaneous sidelining of the finance chief underscores the depth of the board's desire for a clean break from the previous executive regime.

The suspensions leave Eramet, a key global player in nickel and manganese mining, navigating a period of significant uncertainty. The board has appointed interim leaders while it searches for permanent replacements, aiming to stabilize the company and reassure the market. Analysts are watching closely to see what new strategic direction the reshuffled leadership will take for the Paris-listed group.