ASX Release Appointment of Chief Executive Officer and Board Changes
The directors of Tiger Resources Limited (ASX: TGS) (the "Company") advise the appointment of a Chief Executive Officer (CEO) and Board changes.
Tiger has appointed Mr Michael Griffiths, an independent non-executive director since December 2012 and Interim CEO since August 2015, as CEO and Managing Director on a permanent basis.
The appointment will take place from Friday 1 April, 2016.
Tiger Chairman Mark Connelly said:
“Having steered the Company through some very difficult times in the past eight months in an interim CEO capacity, Mike Griffiths presents as the right candidate for the CEO role and, I’m glad to report, has agreed to remain in the role on a permanent basis.”
The Board is also pleased to welcome Western Australian-based engineer Mr Ian Kerr as an independent non-executive director.
Mr Kerr, a professional engineer with 33 years’ experience including 28 years in the mining industry, was previously a director of mining consultancy firm Mintrex Pty Ltd and is now an Executive Consultant with the firm.
Experienced in both project management and operations management, Ian has taken mining projects from concept through to commissioning whilst working directly with international mining houses in Australia and internationally.
Mr David Constable, an independent non-executive director since June 2011, has resigned as a director with effect from 31 March 2016.
The Board expresses its thanks to David for almost five years of service for the Company.
“I am delighted to welcome Ian to the Board, his skill set and depth of experience in an operating environment will be invaluable as Tiger embarks on its next growth phase through the Kipoi SXEW debottlenecking exercise and increased steady state cathode production thereafter,”
Mr Connelly said.
“The Board now has a good mix of financial, operational and technical skills and experience whilst at the same time remaining relatively small in size.”
A summary of key terms of Mr Griffiths’s employment contract are as follows:
• Scope of role and responsibilities is as customary for a Managing Director / Chief Executive Officer;
• Total fixed remuneration of $425,000, subject to annual review and revision at the Board’s discretion; 2|P a g e
• A securities incentive package to be agreed between the parties with approval to be sought at the forthcoming Annual General meeting; and
• Either party may terminate the employment contract without cause by giving three months’ notice.
TGS Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
