Poseidon Nickel (ASX: POS) has reorganised its board with the election of H.E. "Bud” Scruggs as its new chairman.
Scruggs had served as former chairman Andrew Forrest's alternate on the Board since September 2012 and was previously the chief executive officer of The Metal Group.
He is currently a non-executive director for Fortescue Metals Group (ASX: FMG) and works in the U.S. as an expert in business leadership, corporate recoveries and step change business improvement.
He has deep and current experience in the US capital markets which Poseidon views as key component in the final funding into production of the Windarra Nickel Project.
In addition to other civic and business roles, Scruggs worked for Leucadia National Corporation (NYSE: LUK) from 1995 to 2007, where he was president of Leucadia Asset Management Group. He was instrumental in Leucadia's original decision to invest alongside Andrew Forrest in Fortescue.
The company also noted that Richard Monti has resigned as a non-executive director, adding that his technical insights and support to Poseidon’s geological team during exploration had helped bring the company to its current position.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.