Power Metal Resources plc’s chief executive officer Paul Johnson has stepped down with immediate effect because of critical family health matters.
He will be replaced by Sean Wade and will leave the board on 17 March.
Mr Johnson will continue to work with the company on the managerial transition, communication strategies and notably “accelerate the work behind crystallisation of value from the Power Metal’s interests”.
This will include completion of disposal transactions and support for spin-out listings and disposals.
POTENTIAL
“It has been a privilege to bring Power Metal forward over the last four years, to the point where it is now a global business with a portfolio of strategic project interests, in optimal jurisdictions and positioned especially well in the junior resource sector,” said Mr Johnson.
“I look forward to remaining involved with the company, and its commercial work.
“As the largest shareholder and taking an objective view, this managerial transition is the right step now for Power Metal to reach its fullest potential.
“I will take great pride in watching Power Metal, as I expect, take its rightful place amongst the leaders in this sector.”
Non-executive chairman Scott Richardson Brown added that Mr Johnson had made an immense commitment over four years to the company.
“I think it is important to have Paul continuing to work with Power Metal in the key areas of transition, communications strategy and value crystallisation from the portfolio, something he has been instrumental in creating.”
BOARD COMPOSITION
Other corporate changes include Mr Brown assuming the role of permanent non-executive chairman having held the post in the interim since October 2021.
Following the changes on 17 March, Power Metal’s board will still include Ed Shaw and Owain Morton as non-executive directors.