LONDON (Alliance News) - KEFI Minerals PLC on Wednesday revealed a restructuring of its board from August as part of its transition towards gold production.
Under the new structure Non-Executive John Leach will join the executive team as Finance Director.
KEFI will add Mark Wellesley-Wood as a non-executive. He will chair its new technical review committee, whilst Non-Executive Independent Deputy Chairman Ian Plimer will chair the newly-created exploration revenue committee.
Wellesley-Wood also will transition into the deputy chairman and senior independent director roles from January 2017.
The new committees will allow Executive Director and Exploration Director Jeff Rayner to step down from the board and focus on a "more free-ranging role to identify value adding opportunities for KEFI's next stage of development", KEFI said.
"The planned changes to the board of directors announced today reflect our transition from exploration-only to emerging production as well as exploration. KEFI is fortunate to have such a depth of expertise from individuals adjusting their roles to suit the changing needs of the company. We look forward to welcoming to the board Mark Wellesley-Wood, who has deep experience in African mining operations as well as mining finance in the City," said Executive Chairman Harry Anagnostaras-Adams in a statement.
Shares in KEFI were up 3.5% at 0.590 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Kefi Gold & Copper (KEFI)