- Sheffield Resources (SFX) has made a swathe of changes across its board and management team as the company’s Thunderbird project moves to execution
- The company’s Managing Director and Chief Executive Officer of close to six years, Bruce McFadzean is set to step down from the top spot, effective July 2021
- In further board moves, company director Bruce Griffin has been appointed to an executive chair role to fully utilise his industry knowledge
- SFX’s current Non-Executive Chair John Richard is also set to move to a newly created Lead Independent Director role
- Investors appear to have responded somewhat favourably to the announcement, with Sheffield Resources shares ending the session up 10.4 per cent higher at 42.5 cents
Sheffield Resources (SFX) has made a swathe of changes across its board and management team as the company’s Thunderbird project moves to execution.
Sheffield’s Managing Director and Chief Executive Officer of nearly six years, Bruce McFadzean, will step down from is role, effective July 2021, and assume a non-executive director position thereon.
He will continue to serve as a director of the Kimberley Minerals Sands joint venture.
Sheffield’s Thunderbird deposit is situated 25 kilometres north of the sealed Great Northern Highway, between Derby and Broome in Western Australia. It is considered one of the largest mineral sands deposits to be discovered in the last 30 years.
In further board moves, company director Bruce Griffin has been appointed to an executive chair role effective immediately.
According to Sheffield, the Board concluded the role would be the best way for the company to utilise his industry experience and also acknowledges his standing in the mineral sands industry.
SFX’s current Non-Executive Chair John Richard is also set to move to a newly created Lead Independent Director role, which the company says completes the reformulation of the board and management which commenced 18 months ago.
Investors appear to have responded somewhat favourably to the announcement, with Sheffield Resources shares ending the session up 10.4 per cent higher at 42.5 cents.