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(Sharecast News) - South Africa-focused platinum group metals developer and producer Sylvania Platinum announced on Thursday that Stuart Murray would step down as chairman starting 31 December.
The AIM-traded firm said Murray, who has served as non-executive chairman for a decade, had decided to allocate more time to his other business ventures.
It also announced that the board had unanimously voted to appoint Eileen Carr as the chair of the Board upon Murray's departure.
Carr currently serves as a non-executive director and chair of the audit committee.
It said she would bring a wealth of experience to her new role, with more than 35 years of professional expertise within the global resources sector.
Carr previously held leadership positions in executive roles, including chief financial officer at Cluff Resources and Monterrico Metals.
She also served as a non-executive director at Banro and Bacanora Lithium and currently holds the position of non-executive chair at Oriole Resources.
Following the changes, the Sylvania Platinum board would consist of the chair, the group CEO, the CFO, and two independent non-executive directors.
"I want to express my sincere appreciation for Stuart's leadership, dedication, and significant contributions to Sylvania over the years," said chief executive officer Jaco Prinsloo.
"He guided the company through some difficult times, and we're truly grateful for the lasting legacy he leaves behind and wish him well in his future endeavours.
"Rest assured, we remain resolute in our commitment to our mission and the prosperity of the company."
Prinsloo said the firm had a well-defined path forward and a "formidable team" to navigate the transition.
"I have complete confidence in our collective ability to build upon our past successes.
"On behalf of the board, I extend our warmest congratulations to Eileen on her appointment as chair and eagerly anticipate working under her guidance.
"She is a well-experienced board member who has intimate knowledge of the company and management team, and her forward-thinking leadership, expertise, and steadfast commitment align perfectly with the company's values and objectives.
"Under Eileen's stewardship, I am confident that we will not only continue to innovate but also experience sustained growth and success."
At 1451 GMT, shares in Sylvania Platinum were down 2.65% at 65.71p.
Reporting by Josh White for Sharecast.com.
