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Tronox Commences Implementation Of Executive Leadership Transition Plan

STAMFORD, Conn., May 10, 2017 /PRNewswire/ -- Tronox Limited (NYSE: TROX) announced today that Tom Casey will retire from his position as chief executive officer, for health reasons, effective May 15, 2017. Mr. Casey will remain as chairman of the board, where he will support the management transition and oversee the transaction processes for the acquisition of Cristal Chemicals' titanium dioxide (TiO2) assets, the marketing of the Tronox Alkali business, and related matters. The company has begun the implementation of the executive leadership transition plan, which was previously announced by the company's board of directors on March 29, 2016.

In accordance with the board's executive leadership transition plan, Peter Johnston, formerly head of Glencore Corporation's global nickel business and CEO of Minara Resources Limited, will assume the role of interim chief executive officer during the period in which the company identifies a successor to Mr. Casey. Mr. Johnston has been a director of the company since August 1, 2012 and will continue to serve as a director of the company.

The board has retained Korn Ferry to conduct the CEO search and will consider both internal and external candidates.

The Tronox Board of Directors has issued the following statement:
"Tom has informed us of his decision to step down as CEO of Tronox to devote more time and energy to his health. Tom is a remarkable leader who has been at the helm of Tronox since the company's emergence from receivership in 2011 through the recent announcement of the Cristal acquisition. In the process, Tronox has positioned itself as a world leader in the TiO2 industry. As an executive, and as a person, Tom is admired by the entire Tronox family, and the board fully understands and respects his decision. We have asked him to continue as chairman and we are thankful that he has agreed to do so."

Mr. Casey issued the following statement:
"Unfortunately, I am spending more time and energy on my health issues. My ability to deliver the commitment that my colleagues, our customers, our shareholders...