Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) has announced leadership changes and cost reductions as part of a streamlining initiative.
Neil Herbert will become non-executive chairman from 1 July, with Keith Muller, CEO, assuming full responsibility for the company's operations and strategy.
Herbert’s remuneration will reduce in line with his new role, the company noted, and he will no longer be eligible for a performance bonus.
Also, Keith Muller accepted a temporary 10% pay cut.
It comes as the company is driving towards the construction of the Ewoyaa project in Ghana.
"Transitioning to non-executive chairman and consolidating management under Keith ensures a sharper focus on operational delivery and cost control as we move towards construction at Ewoyaa,” Herbert said in a statement.
Muller added: “We are taking decisive steps to streamline our leadership and reduce costs, ensuring we are well-positioned to deliver long-term value for Ghana and our shareholders."