THE BOURSE WHISPERER: The regular game of musical chairs continues within the boardrooms across the resources industry.
BC Iron (ASX: BCI) announced that Mike Young, Malcolm McComas, and Peter Wilshaw have resigned as non-executive directors of the company.
These resignations reduce the Board from eight to five, comprising the chairman, the managing director and three non-executive directors.
BC Iron said the resignations reflect recent Board discussions to reduce its size in the current iron ore price environment.
The Board has also resolved to reduce the fees of the remaining non-executive directors.
“BC Iron wishes to acknowledge the material contributions from each of Mike Young, Malcolm McComas and Peter Wilshaw,” BC Iron chairman Tony Kiernan said.
“They have initiated this change and we thank them sincerely for their particular contributions to the Board and the company.”
Retirement of Director
Adelaide Resources (ASX: ADN) announced John den Dryver has retired from his role as a director of the company.
Den Dryver joined the Board of Adelaide Resources almost 10 years ago as a non-executive director, a position he has held since that time.
Prior to joining Adelaide Resources he held senior managerial and executive positions with a number of resources companies.
In addition to his non-executive role at Adelaide Resources, he has also acted as a non-executive director for a number of other ASX-listed resources groups.
Appointment of Managing Director
Southern Cross Goldfields (ASX: SXG) announced David Sproule has assumed the positions of managing director and chief executive officer.
Sproule was appointed executive director in September 2014 to focus on bringing the company’s projects into production over the next 12 month commencing with the Manuka silver and Mt Boppy mines.
Managing Director resigns
Spectrum Rare Earths (ASX: SPX) announced Ian Bamborough will cease employment as managing director of the company at the completion of his current contract term on 30 November 2014.
Bamborough has served more than seven years in this position having been appointed a few months after the company’s listing on ASX in 2007, and has been responsible for the discovery of the company’s suite of rare earths prospects, including Quantum, Stromberg and Skyfall.