Critical Mineral Resources plc has appointed non-executive chairman Dominic Traynor as executive chairman.
Mr Traynor has been with the company for two years.
CMR said that his appointment reflected his increased involvement in the company’s strategic management and corporate affairs in building a diversified portfolio of Moroccan exploration and development projects.
Mr Traynor is also a partner in Druces LLP, secretary to EV Metals Group plc, which sold its 16.34% cornerstone investment in CMR to KM Securities.
CMR’s board has also approved CMR’s 2024 equity incentive scheme for which eligible employees have today entered into agreements.
The company said that, among other rules, the scheme is limited to 10% of the company’s share capital.
Non-executive directors are eligible for up to 1% of the company’s share capital, and executive directors are eligible for up to 3%.
The three-tranche scheme also aims to align employees’ interests with those of shareholders.