North American Palladium (NAP) has announced the appointment of a new president and chief executive.

James Excell, currently president of mining industry consultancy group Narego Solutions, will take over the position at NAP from January 1st 2006, replacing outgoing president Andre Douchane.

Mr Douchane, who will take up his new role of chairman of NAP from the beginning of 2006, commented on the decision: "I am very pleased to announce Jim's appointment and I welcome him to our senior management team, knowing that his contribution and experience will be invaluable."

Mr Excell, who has previously been employed as chief operating officer of BHP Billiton Diamonds, is currently a director at NAP, but will resign from this role prior to taking on his new position as president and chief executive.

The new appointment comes following disappointing results for the company's third quarter, with an announcement in early November revealing a drop in production due to a fall in head grade during the three months to September 30th.


Ÿ Adfero Ltd