Novo has started a recruitment process to identify and secure a qualified and experienced Chief Executive Officer (CEO).
Following the appointment of the new CEO, it is proposed that the current Executive Co-Chairman and acting CEO, Mr
As part of this process, it is also proposed that current Non-executive Co-Chairman, Dr
During this renewal and transition phase (until the appointment of a new CEO), the salary payable to Mr
Finally, as part of the Board refresh strategy, Non-Executive Director Mr
It is anticipated that the Board refresh and leadership transition outlined above will be completed prior to the Company's Annual General Meeting expected to be scheduled for
With a solid platform, now is the right time to find a dedicated CEO to drive the strategy, whilst the Board refresh is important to ensure that we have the right skills for this next phase.
I would like to thank Michael for his dedication and hard work over the past seven years and look forward to his valuable ongoing input during the remainder of his term. I would also like to acknowledge Quinton who, as one of the Company's co-founders, has been part of this journey since the beginning and who also helped assemble our Australian exploration portfolio.
I'm confident that with the upside potential of our high-quality portfolio, our aggressive exploration strategy and good financial position, Novo has a great future in front of itself.'
ABOUT NOVO
Novo explores and develops its prospective land package covering approximately 7,500 square kilometres in the Pilbara region of
FORWARD-LOOKING INFORMATION
Some statements in this news release contain forward-looking information (including within the meaning of Canadian securities legislation) including, without limitation, the proposed changes to Novo's management and its board of directors and the expected timing of such changes. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the availability of candidates determined acceptable to the Company's board of directors and the Company's ability to conclude acceptable arrangements with such individuals, and the risk factors identified in Novo's annual information form for the year ended
Contact:
Tel: +61 8 6400 6100
Email: info@novoresources.com
Tel: +1 416 543 3120
Email: leo@novoresources.com
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