Highfield Resources Ltd’s (ASX:HFR) (FRA:23H) non-executive director James Dietz has decided to retire and will step down from the board with effect from today.
Dietz, who is 74, was planning to retire from the board at the next AGM, however, while the company is waiting for the Spanish administrations to finalise the last stage of a review of the mining concession documentation, Dietz has advanced his retirement decision to support the company in its current cash preservation efforts.
The board has accepted his decision.
"Key role in shaping Highfield"
Non-executive chairman Richard Crookes said: “I would like to thank Jim on behalf of the board for all that he has contributed over the years.
“Jim has had a key role in shaping Highfield during his five years as a director and I know I speak for all the board when I wish him well and all the best for the future.”
Dietz spent 17 years of his career at Potash Corp, the world’s largest fertiliser company, including 10 years as chief operating officer (COO).
Well respected
Dietz has been a well-respected member of the board of directors during his tenure at Highfield.
He helped to consolidate the company’s sales and marketing strategy and has provided invaluable insights into the global potash market.
Independent director Roger Davey will replace Dietz as a member of the company’s Remuneration and Nomination Committee.
The committee will continue to comprise most independent non-executive directors.
"On the right path to build project"
Chief executive officer Ignacio Salazar said: “I wish to thank Jim for his contributions and support as a director.
“The potash industry knowledge that he brought to Highfield has made the company stronger and sets us on the right path to build the project.”
Speaking on his retirement, Dietz said: “It was a pleasure to work with Highfield on Muga.
“It is a very unique project with many positive attributes, and I wish the company all the success in the future.”