Medusa Mining (ASX:MML) restructures board, appoints MD and Chairman

• Following a board restructure, Medusa Mining (MML) has appointed a new Managing Director and Non-Executive Chairman
• Andrew Teo has been appointment Managing Director after acting as interim CEO since June last year
• Meanwhile, Jeffery McGlinn will serve as Non-Executive Chairman alongside Non-Executive Directors Roy Daniel and Simon Mottram
• Medusa Mining is down 2.33 per cent, trading at 84 cents

Following a board restructure, Medusa Mining (MML) has appointed a new Managing Director and Non-Executive Chairman.  

Andrew Teo has been appointed Managing Director, and Jeffery McGlinn will take the position as Non-Executive Chairman, both effective from today.

Andrew Teo has been Chairman of Medusa since November 2013, a member of the board since 2010 and interim CEO since June 2020.

Following the resignation of the former CEO, Medusa began a search to find a replacement lead executive.

However, due to COVID-19 restrictions on travel, the process became more challenging, resulting in the appointment of Teo to the role.

The appointment comes with a three-year term and a fixed remuneration of $500,000 per annum, including superannuation. Teo will also be issued with two million performance rights.

Teo comes with 40 years’ experience in accounting, treasury, corporate business administration and was formally an executive of BGC for more than 35 years.

Jeffery McGlinn was appointed as a Non-Executive Director of Medusa in February 2021 and will now take the role of Non-Executive Chairman, following Teo’s appointment as Managing Director.

McGlinn comes with extensive international experience and previously founded mining services company NRW Holdings.

Following the restructure, McGlinn will serve alongside Non-Executive Directors Roy Daniel and Simon Mottram.  

Medusa Mining is down 2.33 per cent, trading at 84 cents at 12:45 pm AEDT.