Energy Fuels Inc (TSE:EFR) has announced a series of changes at its top-level management in a bid to trim its executive team to cut costs.
In a statement, the integrated uranium mining company said following the recent appointment of Mark S. Chalmers as its new president and chief executive, it has decided to streamline its management team.
READ: Energy Fuels taps Mark Chalmers as CEO, succeeds retiring Stephen Antony
David C. Frydenlund, the company's senior vice-president, general counsel and corporate secretary, will now take on the role of chief financial officer, general counsel and corporate secretary, with effect from 2 March.
Frydenlund will replace the company's current CFO, Daniel G. Zang, who will leave the company on 1 March.
W. Paul Goranson, the company's executive vice-president of operations, will take over as chief operating officer with immediate effect.
Energy Fuels said its current controller, Matthew J. Tarnowski, has been appointed chief accounting officer and controller of the company, also with immediate effect.
Chalmers said: "Through these management changes, the company expects to realise cost savings by shrinking the size of our executive team, while also streamlining our management and maintaining a high level of continuity by promoting individuals from within the organisation.
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“I am particularly excited about several company initiatives we are pursuing, including advancing our pending 232 petition now before the U.S. Department of Commerce, growing our alternate feed business, securing land cleanup work, evaluating opportunities in vanadium recovery, and of course maintaining and advancing our industry-leading U.S.-based uranium production portfolio."