THE BOURSE WHISPERER: The regular game of musical chairs continues within the boardrooms across the resources industry.
Potash West (ASX: PWN) announced George Sakalidis has notified the company of his intention not to stand for re-election as a non-executive director.
Accordingly he will retire as of the company’s Annual General Meeting on 26 November
“George was a founding director and was instrumental in listing PWN in 2011,” Potash West chairman Adrian Griffin said.
“He has been a staunch supporter of the company and his local experience, having operated in the
Perth Basin for many years, has been an invaluable management asset.
“I extend my personal thanks, and that of the PWN Board, to George for his efforts.
“All of the PWN management team would like to wish George well for the future, knowing that his support will remain long after his retirement from the board.”
RNI NL (ASX: RNI) has appointed Royce McAuslane as managing director as part of a review of the Board’s executive structure.
McAuslane joined RNI as a consultant a year ago and was appointed development manager in July 2014 to oversee the delivery of the Grosvenor gold project and other project development activities.
As part of the Board review, executive chairman Miles Kennedy will become non-executive chairman and executive technical director Albert Thamm will become a non-executive director.
“In the 12 months he has worked for RNI, Royce has proven himself to be extremely professional and diligent,” Kennedy said.
“He has the right credentials to take RNI through the next phase as we look to transition to a mining company, generating the cash flows which will in turn enable RNI to fund our ongoing copper-gold exploration programs in WA’s Bryah Basin.”