Archer Materials Ltd (ASX:AXE, OTC:ARRXF) founding director Dr Alice McCleary will be retiring due to personal reasons at the 2021 Annual General Meeting (AGM).
Dr McCleary has bought extensive financial, tax and business experience to the board with her service as the non-executive director and chair of the Audit and Risk Committee over the last 14 years.
In addition, McCleary has made a valuable contribution towards the growth and development of Archer right from the initial ASX listing to the more recent transition of Archer from a mineral explorer to a technology focussed company.
“Transition to a deep technology company”
McCleary said: “By the time of the AGM, the Company will have sold all of its mineral tenements, and the transition to a deep technology company will be complete.
“I feel it is the right time to step down as a director and have complete confidence in the current board and senior management in taking the company forward into an exciting future.
“I want to take this opportunity to thank the Board, management, and employees of Archer as well as Archer shareholders for their support over the years.”
“Outstanding contribution”
Archer executive chairman Greg English said: “Alice leaves a significant long-lasting legacy – none more important than the transition of Archer to a deep technology company with a market capitalisation exceeding $300 million.
“On behalf of the Board and all current and former staff, I would like to pay special tribute to Alice and thank Alice for her commitment to Archer over the past 14 years.
“Alice has made an outstanding contribution to the Company, and we wish Alice well in her retirement.
“We will now start the search for a non-executive director with a scientific and deep tech background capable of assisting the Board and management with the Company’s growth, in particular, the 12CQ quantum computing chip technology.”
- Ephrems Joseph