Brisbane company that revealed $5 billion windfall – then started search for new board
After revealing its Quebec lithium operations were worth $5 billion Brisbane-based Sayona has decided for a major overhaul of its leadership.
Sayona executives visiting the company's site in Qebec, Canada. (Image: Sayona)
The company announced today it wanted a new independent chair and independent directors to steer the company.
It also wants to establish key governance committees and review the pay of its board and executives.
One of the directors, James Brown, said the company had grown enormously in the past two years as it evolved from a junior explorer to a lithium producer and gained admission to the ASX 200 with a market value of $1.8 billion.
He said new directors and committees would facilitate stronger transparency, accountability and long-term value creation.
The company’s current board has four directors but one of them, Paul Crawford, has announced his retirement.
At least two independent directors were expected to be added before November’s AGM.
Search firms Korn Ferry and Lacoste Executive Search have been appointed to find the new leadership.
