- Altrum Coal (ATU) has received notice of resignation from its current Managing Director and Chief Executive Officer, Andrew Caruso
- Mr Caruso has confirmed his willingness to work his contractural notice period of three months in order to facilitate a smooth transition to new executive leadership
- During this interim phase, he will remain as Chief Executive Officer but will step down from his role as Managing Director from today
- The Atrum board will undertake a period of review with respect to its preferred pathway to appointment of a new Chief Executive Officer.
- Shares closed 7.14 per cent lower today at 2.6 cents each
Altrum Coal (ATU) has received notice of resignation from its current Managing Director and Chief Executive Officer, Andrew Caruso.
The Atrum board said it is disappointing but it respects Mr Caruso’s decision to pursue other opportunities.
Mr Caruso has confirmed his willingness to work his contractual notice period of three months in order to facilitate a transition to new executive leadership.
During this interim phase, he will remain as Chief Executive Officer but will step down from his role as Managing Director from today.
The Atrum board will undertake a period of review with respect to its preferred pathway to appointment of a new Chief Executive Officer.
Non-Executive Chairman Glen Koropchuk thanked Andrew Caruso for his role in the company.
“I would like to take this opportunity to thank Andy for his directness and transparency, both in this matter and across his highly effective period of leadership at Atrum. We are naturally disappointed he will be departing the Atrum team,” he said.
“However, this juncture does present us with the opportunity to carefully evaluate which skills Atrum should be prioritising in the appointment of its next executive leader – including maximising our overall readiness for targeted future advancement of the world-class Elan Hard Coking Coal Project.”
Shares closed 7.14 per cent lower today at 2.6 cents each.