UPDATE 1.30pm: Independence Group has named former PMI Gold boss Peter Bradford as its new chief executive and managing director.
Mr Bradford replaces Chris Bonwick, who retired as the company's long-serving managing director in November last year because of ill-health.
Mr Bradford is a WA local, who graduated as a metallurgist from the WA School of Mines, and has more than 35 years experience across all facets of the mining industry.
He oversaw the merger of PMI Gold with Toronto-listed, Asanko Gold, which was completed last month.
He will be paid a salary of $750,000 plus short and long term incentives.
Shares in Independence closed up eight cents, or 1.92 per cent, at $4.24.