Sigma Lithium Corp (TSX-V:SGML, OTCQB:SGMLF, NASDAQ:SGML) announced it has appointed veteran finance executive Dana Perlman as its third independent director as the company transforms from lithium developer to producer.
Sigma co-CEO Ana Cabral-Gardner told Proactive that the company decided to rebalance its board of directors to demonstrate its commitment to its environment, social and governance (ESG) centered strategy.
“ESG starts with the “G”, governance. Consistent with our ESG-centered strategy of walking the talk, we decided to rebalance our board of directors and to voluntarily grant even more decision-making power to our minority shareholders. By adding another independent director, 50% of the vote is now cast by the minority shareholders,” said the co-CEO.
READ: Sigma Lithium kicks Brazillian Grota do Cirilo project into high gear
Perlman brings significant expertise to the Sigma board, including over 20 years of experience in strategy, finance, investment banking, business development, acquisitions, risk management and investor communications.
Importantly, Perlman adds significant board experience, as she currently sits on the board of $44 billion Nasdaq-listed O'Reilly Automotive and chairs its Corporate Governance and Nominating Committee.
Walking the talk
In addition to restructuring a board composition that is now 50% independent, Sigma is taking further steps to adhere to best practices in governance.
Cabral-Gardner added: “On top of it, key committee compositions are either 100% comprised of independents or chaired by them. Therefore, they control all key strategic decision making of Sigma Lithium, which is unprecedented in a company led by a financial private equity sponsor.”
Importantly, the company is also keeping its commitment to the United Nations Sustainable Development Goals #5 (Gender Equality) by having a Board of Directors that is comprised of 50% under-represented groups.
“Appointing Dana reinforces our commitment to diversity, at a critical time for women in positions of leadership, with the “Great resignation,” said Cabral-Gardner.
With the appointment of Perlman, Sigma now also surpasses the Nasdaq’s diversity guidelines for board membership, which stresses that its listed companies should have at least two diverse directors.
“Sigma leads the way and surpasses Nasdaq’s ultra-visionary guidelines for boards, reaching 50/50 balance,” pointed out Cabral-Gardner.
Sigma Lithium is dedicated to powering the next generation of electric vehicle batteries with environmentally sustainable and high-purity lithium. The company is currently building the Grota do Cirilo project in Brazil, which represents one of the largest and highest-grade hard rock lithium spodumene deposits in the Americas.
--Updates with CEO comments--
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas
