Euro Manganese Inc (ASX:EMN) (CVE:EMN) (OTCMKTS:EUMNF) (FRA:E06) is implementing a CEO succession plan in line with its transition from a development company to an operating company.
As such the company will begin the search for a new chief executive officer to carry the company through its next stage of development centred on the Chvaletice Manganese Project in the Czech Republic.
Company founder and current CEO Marco Romero will remain in the CEO position until a successor is identified and appointed.
“Ideal time to effect change”
Romero said, "I have been looking for the right opportunity to make way for a new CEO for some time and have been working closely with the board to set the stage for a transition.
"This current phase, where we are busy completing our feasibility study and EIA, building our demonstration plant, as well as setting the stage for project financing and construction, represents an ideal time to effect that change.”
“Inspirational and capable leader”
The company’s chairman John Webster said: "Marco has been an inspirational and capable leader for the company since 2015.
"He identified and secured the Chvaletice Manganese Project, set the company’s vision for the future and its high standards, and established a firm foundation for its growth.
"He also built an outstanding team, developed strategic customer relations, raised the necessary finance to get us through the development phase and set us on the path to success.
"We look forward to working with him as we begin the next phase of the company's growth."
To produce high purity manganese
EMN is moving systematically towards producing high-purity manganese from the Chvaletice Project in the heart of Europe.
This high-value product is increasing demand in the rapidly growing new-wave battery industry serving global electric vehicle and green energy demands, particularly in Europe.
Earlier this week Romero stated: “Over the past eight months we have witnessed a transformation in the global automotive industry, as carmakers accelerate their transition to battery electric vehicles.
“Without raw materials, there are no batteries. High-purity manganese is an essential battery metal."
Preparing for operations
In regard to the CEO succession plan, Romero added: "We have tangible short-term objectives and a very capable team in place, and we are well funded to achieve those goals.
"What we need now is to onboard a CEO who has the right credentials to build out our organization and prepare us for life as an operating company at the heart of the European battery supply chain.
"I plan to remain with the company in a new role to help our team achieve our key goals and to pursue opportunities beyond the advancement of our current project. I am excited about the future of Euro Manganese."