Centrus Energy on Monday announced that Chief Executive Daniel Poneman will step down from leadership of the uranium broker and enrichment technology developer at the first of the year.
He will be succeeded by Orano USA President and Chief Executive Amir Vexler on January 1.
Poneman joined Centrus in March 2015 and over eight years returned the company to profitability, Centrus said in a statement.
In October, Centrus inaugurated the first new U.S.-owned uranium enrichment plant to begin production in nearly 70 years and made its first delivery of high-assay, low-enriched uranium (HALEU) to the Department of Energy earlier this month.
“This transition comes at a time of strength for Centrus.,” said Mikel Williams, chairman of the Centrus board of directors. “On behalf of the board and our shareholders, I want to thank Dan for his outstanding leadership over the past eight years. The selection of Amir Vexler to succeed Dan next year reflects the culmination of our thorough succession planning process. Amir has a demonstrated track record of success as a CEO and a leader of nuclear fuel operations and is well-qualified to lead our continued growth and development in the years ahead.”
Centrus delivered 20 kilograms of HALEU to DOE in early November, fulfilling its initial obligation under a contract to make the material for a new generation of nuclear reactors.
Vexler will shepherd Centrus through the second phase of Centrus’ contract to produce HALEU for DOE that, with options, is worth up to $1 billion over 10 years. If the 20-kilogram test batch of HALEU passes muster with DOE, the agency would put Centrus on the hook to produce 900 kilograms of HALEU at its American Centrifuge Plant in Piketon, Ohio, by December 2024 in the second phase of the two-year contract’s base period.
