@Paulweller66 you will be a happy man this morning mate.
I agree that it sounds like the board wants to bring in a CEO with experience in 'the right skill set' as Chris suggests in the announcement, or more appropriately as the board suggests: 'experience in manufacturing, operations and scale-up'.
The key issue is it is not realistic to find someone with experience in anode, so the three board-listed traits above will come from another industry with hopefully transferable skills.
Another thing, I think Chris is based in Canada. They make it clear that the next CEO will be based at HQ in Chattanooga. Perhaps Chris didn't want to move?
Are there red flags here? Maybe not red, but orange. This has been Chris' baby for a number of years, and like him or not, Novonix is much much much more advanced than it was in 2020. He is invested -- career CEOs can often make short term decisions without the right incentive structure in place. In addition, Chris is stepping down in literally three days. Transition time? None of that, with the exception of him assisting as a 'special advisor' to the BOD. Might be nothing, of course.
The next decision is a massive one, but it also suggests they don't have a replacement in mind. They need to get it right.
On another note, man they pay a whopping CEO salary...overs for this stage of the company's journey if you ask me.
NVX Price at posting:
65.0¢ Sentiment: Buy Disclosure: Held
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