Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) has announced that its chief executive, Paul Cronin, has tendered his resignation and will step down at the end of the week.
Cronin is to relocate to Australia and the company noted that the decision was made for family reasons.
Non-executive director Laura Tyler will take up the role of interim chief executive and Sanela Karic will become executive director for corporate affairs. Eric Rasmussen, currently a non-executive director, will chair the company’s sustainability committee.
"I would like to thank Paul for his vision and energy, leading Adriatic on an incredible journey from exploration junior to producer in just seven years,” Adriatic chair Michael Rawlinson said.
“He should be justly proud of his achievements, and we wish him well as he returns to Australia. Paul has kindly offered to continue to work with us as a consultant, to ensure a smooth leadership transition."
Cronin, meanwhile, commented: “Now is the appropriate time for me to step down - for the company, and for me personally.”
He added: “It has been a great honour to serve as the company's CEO for the last five years, and I am immensely proud of what we have achieved as a team.
“Living and working in Bosnia and Herzegovina at the project has been instrumental to successfully steering the company through permitting, construction and the commencement of production, but now is the time for new leadership, with a skillset better aligned to the needs of the company, and its stakeholders."
Tyler added: “I recently spent time at the Vares and Rupice sites and having been impressed by the excellent professionals and dedicated team players, I am excited to help lead the project from ramp-up to nameplate capacity over the coming months.
“I would like to congratulate Paul on the implementation of his bold vision that is delivering real value to the people of Vares and Bosnia and Herzegovina."