JOHANNESBURG - Bushveld Minerals Limited (AIM: BMN), an integrated primary vanadium producer, disclosed today that its Independent (LON:IOG) Non-Executive Chairman Michael Kirkwood and Chief Executive Officer Craig Coltman have stepped down from the board with immediate effect. The company, known for its vanadium production, now has a board consisting of two independent non-executive directors, Kevin Alcock and Mirco Bardella.
The resignations come at a time when the company is navigating through complex market dynamics. Coltman, despite his departure from the board, will fulfill his duties as an employee of Bushveld Minerals SA Limited during his three-month notice period. He is set to work closely with the appointed business rescue practitioner, Piers Marsden of Matuson Associates.
Alcock and Bardella, the remaining independent non-executive directors, have expressed their gratitude to Kirkwood and Coltman for their contributions to the company and wished them success in their future endeavors. The company has not yet announced any successors for the vacated positions.
Bushveld Minerals is recognized as one of the world's three primary vanadium producers, which positions it prominently in the industry. The company's strategic focus on vanadium, alongside its upstream assets, has been a key aspect of its market exposure.
As per market regulations, the information regarding the resignations was considered inside information under Article 7 of Regulation (EU) No 596/2014 until the release of this announcement. The company has made the necessary disclosures in line with the Market Abuse Regulation (MAR).
This news is based on a press release statement from Bushveld Minerals. Further information on the company's progress and detailed operations can be accessed on its official website. The company, along with its financial advisors and public relations team, have not provided additional comments on the board changes at this time.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.