Loyal Lithium (ASX:LLI) promotes Adam Ritchie to Managing Director

• Loyal Lithium (LLI) promotes Adam Ritchie to the role of Managing Director
• The former Project Director of Pilbara Minerals (PLS) first accepted the position of CEO back in July 2022, with the additional MD role effective from today
• Mr Ritchie’s employment contract has now been amended to include up to three million executive performance rights, while his remuneration package will remain unchanged
• Following its transition from Monger Gold, Loyal Lithium says it plans to further grow its hard-rock lithium portfolio and continue exploring its collection of lithium projects
• Loyal Lithium is down 7.25 per cent, trading at 32 cents at 1:52 pm AEDT

Loyal Lithium (LLI) has promoted Adam Ritchie to the role of Managing Director.

The former Project Director of Pilbara Minerals’ (PLS) flagship Pilgangoora mine accepted the role of CEO of Loyal Lithium back in July 2022, with his additional MD role effective from today.

Mr Ritchie has more than 20 years of experience in the resources sector, with an “intimate” technical and commercial knowledge of the lithium market.

Loyal Lithium Chairman Peretz Schapiro said the board was pleased Mr Ritchie accepted the role as Managing Director.

“Since joining as CEO, his involvement in the company to date has been fundamental to our transition and evolution,” Peretz Schapiro said.

“With a clear vision of Loyal Lithium’s long-term future, the board is delighted to have Adam at the helm.”

Mr Ritchie’s employment contract has now been amended to include up to three million executive performance rights. His remuneration, however, will remain unchanged from June 27 when he was appointed CEO.

With Mr Ritchie now in the top job, Ben Fogelgarn will step down from his role as Non-Executive Director.

Meanwhile, Mr Schapiro will be issued 1.5 million performance rights in his role as Executive Chairman, pending employment milestones.

Following its transition from Monger Gold, Loyal Lithium said it planned to further grow its hard-rock lithium portfolio and continue to systematically explore its collection of lithium projects.

Loyal Lithium was down 7.25 per cent and trading at 32 cents at 1:52 pm AEDT.