Dalrymple Bay Elevates CEO Amid Board Shakeup After Major Shareholder Exit
Dalrymple Bay Infrastructure has appointed CEO Michael Riches as Managing Director, coinciding with the resignation of two non-executive directors following a significant shareholder sell-down.
- Michael Riches appointed Managing Director and CEO
- Two non-executive directors resign after major shareholder exit
- Resignations linked to Brookfield Infrastructure Group's sell-down
- Company actively seeking new independent directors
- No changes to CEO remuneration despite new title
Leadership Consolidation at Dalrymple Bay Infrastructure
Dalrymple Bay Infrastructure Limited (ASX, DBI) has announced a significant leadership update, promoting its Chief Executive Officer, Michael Riches, to the combined role of Managing Director and CEO effective from 30 September 2025. This move signals the board’s confidence in Riches’ leadership since his appointment as CEO in March 2024 and suggests a strategic consolidation of executive authority at a pivotal time for the company.
Chairman Hon. Dr David Hamill AM expressed strong support for Riches’ expanded role, highlighting the positive impact he has had on the company’s operations and outlook. The dual title aligns Riches’ executive responsibilities with a formal seat on the board, potentially streamlining decision-making processes as DBI navigates evolving market conditions.
Board Resignations Follow Major Shareholder Exit
Simultaneously, Dalrymple Bay Infrastructure announced the resignations of two non-executive directors, Jonathon Sellar and Ray Neill, both affiliated with Brookfield Infrastructure Group. Their departures come shortly after BIP Bermuda Holdings IV Limited, a significant shareholder, completed a full sell-down of its stake in DBI on 12 September 2025.
The exit of these directors reflects the changing ownership landscape and raises questions about the future composition and strategic direction of the board. Chairman Hamill publicly thanked Sellar and Neill for their longstanding contributions, underscoring the company’s respect for their service during a period of substantial growth and operational excellence at the Dalrymple Bay Terminal.
Looking Ahead, Board Renewal and Strategic Stability
DBI is actively searching for new independent directors to fill the vacancies and strengthen the board’s expertise. While details on potential candidates remain under wraps, the company anticipates announcing new appointments in the coming months. This renewal phase offers an opportunity for DBI to recalibrate its governance framework in line with shareholder expectations and market dynamics.
Importantly, the company confirmed that Michael Riches’ remuneration remains unchanged despite his new title, signaling a focus on continuity and prudent financial management. As the world’s largest metallurgical coal export facility, Dalrymple Bay Terminal remains a critical asset in the global steelmaking supply chain, and stable leadership will be key to sustaining its operational and financial performance.
Investors and market watchers will be keen to monitor how these governance changes influence DBI’s strategic initiatives, particularly in the context of evolving export demand and infrastructure expansion plans.
Bottom Line?
Dalrymple Bay’s leadership reshuffle marks a new chapter, but fresh board appointments will be crucial to shaping its future trajectory.
Questions in the middle?
- Who will be the new independent directors joining DBI’s board?
- How will the shareholder sell-down impact DBI’s strategic priorities?
- What operational or growth initiatives will the new leadership focus on?
