BC Iron's managing director Mike Young will step down in May to make way for the company's finance and executive director Morgan Ball to take the helm.
Mr Young will remain on the iron ore miner's board as a non-executive director.
BC said the transition would take place over the next two months.
BC Iron's chairman Tony Kiernan said it was Mr Young's decision to step down and the board wished him all the best in his future endeavours.
"Mike Young was our first employee and has played an absolutely integral role in bringing the company to its current position as a significant iron ore producer," Mr Kiernan said.
Mr Young negotiated a joint venture deal with Fortescue Metals Group in 2009 to help develop its stranded Nullagine iron ore project into and provide logistics options to transport ore from the project.
In December, BC lifted its stake in Nullagine from 50 per cent to 75 per cent in a $190 million deal with FMG.
Mr Ball - a chartered accountant with more than 20 years of Australian and international experience in the resources, logistics and finance industries - joined BC Iron in September 2009 as chief financial officer and company secretary.
He was appointed to the board as an executive director in December 2011.
BC Iron said final details of Mr Ball's salary package were still being determined and would be announced shortly.
Shares in the company were unchanged at $3.67 at 10.50am.
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