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2026-11-06

← ILU management

Full background report

Adele Stratton

Chief Financial Officer and Head of Development

Career chronology

  • 2018: Iluka Resources Limited — Chief Financial Officer and Head of Development. 2025 Annual Report (p.38; executive biography)

Education and qualifications

Issuer-reported qualifications

Qualifications reported in 2025 report · issuer reported · low materiality

BA (Hons), FCA and GAICD, as reported by Iluka. Independent awarding-body or professional-register records were not reviewed.

Attribution: Responsibility not applicable. Issuer-reported; not independently verified.

Relevance: Credentials relate to professional background, not evidence of performance.

2025 Annual Report (p.38; executive biography)

Business failures and setbacks

Eneabba budget increased while construction continues

2022–September 2026 · documented · medium materiality

Iluka’s 2022 final investment estimate of A$1.0–1.2 billion rose to A$1.7–1.8 billion by 2024. The company reported 65% construction completion and A$1.237 billion accrued at 30 September 2026; first refinery output is not yet demonstrated.

Attribution: Role overlaps event; causation unproven. The current finance, projects or rare-earths role overlaps the project period, but no source assigns this person individual responsibility for the increase.

Relevance: Directly relevant to current development responsibilities without attributing the outcome to one person.

Iluka confirms cost blowout at Australian rare earths refinery (Capital estimate and company explanation); Quarterly Review to 30 September 2026 (p.4, Eneabba project update)

FY2025 impairment and loss

FY2025 · issuer reported · medium materiality

Iluka reported a FY2025 net loss after tax of A$288 million, including A$351 million asset impairment and A$216 million inventory write-downs amid subdued mineral-sands markets. Underlying NPAT was A$78 million.

Attribution: Role overlaps event; causation unproven. Stratton was CFO; the company describes market conditions and accounting effects, not individual causation.

Relevance: Financial and capital-allocation context.

2025 Annual Report (p.10, underlying NPAT and impairment)

Suitability for the current role

Relevant experience and role fit

Career through 2026 · analyst inference · medium materiality

Joined Iluka in 2011; CFO from 2018 and development responsibilities from 2020; previous KPMG assurance in the UK and Australia and Rio Tinto Iron Ore finance roles. Analyst inference: this disclosed background is relevant to the current role; the company biographies do not establish independent attribution of delivery or performance.

Attribution: Responsibility not applicable. Role-fit inference from disclosed career, not a performance finding.

Relevance: Relevant professional experience and documented limitations.

2025 Annual Report (p.38; executive biography)

Evidence gaps

  • Education and professional credentials are issuer-reported and not independently verified.

  • Full prior-employer dates and individual contribution to company outcomes are not established.

  • Targeted public search is not an exhaustive court, sanctions, regulator or credential check.

  • Iluka’s 2019 and 2020 annual reports date the CFO appointment to August 2018, while its undated executive page says September 2018; the exact appointment date is unresolved.