Walkabout Resources Ltd (ASX:WKT) has appointed Michael Elliott to the board as an independent non-executive director.
The company is currently transitioning from an exploration company towards being a developer in relation to its Lindi Jumbo Graphite Project in southern Tanzania.
READ: Walkabout Resources to begin earthworks at Tanzanian graphite project in early 2019
Elliott was previously the Global Mining & Metals Leader for Ernst & Young, and in that role he undertook projects on behalf of some of the largest companies in the international minerals sector.
He is also a member of the Institute of Company Directors and a Chartered Accountant fellow.
Walkabout chairman Trevor Benson said: “We welcome Mr Elliott as a non-executive director to the board and believe his appointment further aligns the company with independent board representation and allows the executive management team to focus on moving the company towards development.”
Corporate governance framework update
As part of its transition towards being a developer, Walkabout has been undertaking a process to best position the company for a wider global audience and to attract development capital for the project.
A key element of this transition is updating the company’s corporate governance framework.
Within this framework and following consultation with shareholder groups, the board will undertake a full review in line with international best practice including, within a 12-month period:
• The appointment of a majority of independent non-executive directors;
• A reduction of the number of executive directors; and
• Splitting the role of chairman into non-executive and chief executive officer.
The inclusion of additional non-executive directors will also result in restructuring of the Remuneration, Audit & Risk and Nominations Committees.