Vulcan Energy Resources (ASX:VUL) has appointed one Angus Barker to its Board of Directors and cleared up room for other strategic investors.
Barker, Vulcan noted on Friday, is a former investment banker and government adviser – with a particular expertise around mergers and acquisitions. His appointment comes as the company gears up to produce green lithium in Europe.
It’s not the only change to the C-Suite announced Friday. A number of board members are stepping down, to “allow room on the board for the potential appointment of strategic investor nominee Directors.”
“As part of the transition to a more streamlined Board, longest-serving non-executives Mr Gavin Rezos, Ms Annie Liu and Ms Ranya Alkadamani will retire from the Board during Q4 2024.”
Rezos was thanked for guiding company Executive Chair (EC) Francis Wedin through his early days with Vulcan; Alkadamni was noted as a powerful force bringing the project to ESG-focused investors’ tables, and, Liu was thanked for providing financial advice.
As for Wedin himself – he highlighted Barker’s experience advising to government when it comes to critical minerals. It isn’t hard, perhaps, to imagine how Wedin might want to utilise Barker – given Australia’s ongoigng quest to decouple its mineral supply chains from China.
“Angus’ expertise will be invaluable to Vulcan going forward … the appointment follows the recent start of commissioning at our downstream lithium hydroxide optimisation plant,” EC Dr. Wedin said.
“The opportunity to leverage his global investment banking experience, coupled with his appreciation of the role of government in promoting new critical minerals supply, will be highly beneficial to Vulcan during this transformative period.”
Describing it as a pivotal moment, Wedin also highlighted the company is targeting the completion of Phase One financing next year – whether or not the company is freeing up board space to enhance that process remains to be seen.
VUL last traded at $3.99.