USA Rare Earth, Inc. (Nasdaq: USAR) announced that Barbara Humpton will retire as chief executive officer and board director on October 1, 2026, and that Thras Moraitis will succeed her in the role on the same date.

Moraitis currently serves as CEO of Serra Verde Group, a rare earths producer. USAR and Serra Verde entered into a definitive combination agreement in April 2026, with the transaction expected to close by the end of August 2026. During the interim period, Moraitis will serve as president, overseeing the combined company's operations.

The company also announced that Michael Blitzer, previously chairman of USAR's board, has been elected executive chairman effective immediately. Blitzer is a founder and managing partner of Inflection Point, which has been a financial sponsor of USAR since its 2025 public listing.

Moraitis has led Serra Verde since January 2023. Prior to that role, he served as chief development officer of EuroChem Group AG and was a co-founder of X2 Resources, a $5.6 billion mining investment fund. He also previously served on the executive committee of Xstrata Plc, which was sold to Glencore in 2013.

"With the Serra Verde combination nearing completion and our overall focus shifting to execution, Barbara and the Board agree this is the right time for a leadership transition," Blitzer said in a statement.

Humpton said she and the board agreed the approaching close of the Serra Verde transaction made the timing appropriate for a leadership change.

The announcements were made in a press release issued by USA Rare Earth on July 20, 2026.