It could be a positive, but their 'reasons' don't match the Co's explanation.
One had been there 9 years and results indicate it was past time to go.
"23 March 2015: Brisbane, Australia – Citigold Corporation Limited (“Citigold” or
“Company”) (ASX:CTO) is pleased to advise that it has made several changes to the
Board and Executive team as part of the transition to the previously announced
transaction with Kingsford Investment Group.
The Company herewith advises that Mr Raymond Tan has resigned as a nonexecutive Director. Raymond joined Citigold two years ago. He regrets resigning
but feels that he has been unable to devote sufficient time and attention to our affairs
due to his other full time commitments.
The Company also advises that Mr Matthew Martin has resigned as Chief Executive
Officer. Matthew joined Citigold 9 years ago and has been a very important
contributor to many of the achievements over that time. His dedication is
commendable. He regrets resigning but recently his personal commitments have
substantially changed that will require a lot of his time such that he feels he can no
longer fulfill his duties as an executive. Nevertheless, Matthew will assist the
Company on a consulting basis and as an advisor to the Chairman.
To both we say thank you for their important contribution.
In the interim the Executive Chairman will take on the role of CEO. This temporary
position is pending the selection, in due course, of a new person with the skillset to
lead the Company and the planned major scale up of operations at Charters Towers.
It is expected that the project will be managed and operated differently.
The Chairman, Mark Lynch, added “We will challenge and review our business
plans and strategies including consideration of opportunities to bring forward gold
production. Furthermore, the smarter, faster, better, cheaper mantra as we progress the
joint venture will involve using proven innovations to develop a high productivity
low total cost gold mine. I am very excited about our future at Charters Towers”.
Add to My Watchlist
What is My Watchlist?
