"With the transition of responsibilities completed during the December quarter and the resulting change to executive responsibility at the board level, the roles and remuneration structure for MXC’s Executive Directors has been materially revised to reflect a transition of key responsibilities to the new management team, effective 1 January 2019.
Details of this are reflected below.
Roby Zomer - Managing Director Annual remuneration of $300,000 with additional performance shares (equating to 30% of annual salary) based on share performance and operational milestones. As Managing Director, Roby remains responsible for the execution of the Board’s strategy and operations across the Company’s entire operations. 4 - 6
Brett Mitchell - Executive Chairman Annual remuneration of $240,000 with additional performance shares (equating to 30% of annual salary) based on share performance and operational milestones. As Executive Chairman, Brett will continue to be responsible for the Company’s financing, corporate strategy and development.
Nativ Segev - Director and Business Strategy Manager Annual remuneration of $240,000 with additional performance shares (equating to 30% of annual salary) based on share performance and operational milestones.
Nativ in his new role will act as the business strategy advisor to the Board utilising his vast experience and extensive network of industry experts in the medicinal cannabis sector. This role has been created to ensure the Company remains at the forefront of industry innovation and development. Further to this, as the Company’s project in Malta will be the focus of 2019, Nativ will be responsible for the Malta project construction and operation, ensuring it meets the required KPIs."
MXC Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
