Savannah Resources (LON:SAV) says it's on the hunt for a new non-exec director as it moves to its next phase of development and Charlie Cannon-Brookes retires from the board.
Cannon-Brookes had always said he would stand down once the group's strategic transformation had been implemented - namely the exit from its West African gold projects and the acquisition of interests in two new core geographies of Oman and Mozambique, in copper and heavy minerals respectively.
Savannah said: "During Charlie's directorship the company strengthened its balance sheet, established a key management group and secured a valuable portfolio of new projects.
"Charlie had always made it clear that once this strategic transformation had been successfully implemented he would look to stand down and this has been cemented by the recent agreement to form a joint venture with Rio Tinto on their heavy minerals tenements in Mozambique.
"The company wishes to thank Charlie for his very significant contribution and to also wish him well in all his future endeavours, including the Executive Director role he has just taken on at Duke Royalty Limited."