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Highlights
- Pilbara Minerals informed that its CFO Brian Lynn is leaving the firm after serving for more than six years.
- The news came soon after when the company appointed Vince De Carolis as its new COO.
- Meanwhile, at 3.14 PM AEDT, Pilbara's shares were spotted trading at AU$5.43 apiece, up 6.26% on ASX.
Shares of lithium and tantalum producer and explorer Pilbara Minerals Limited (ASX:PLS) were spotted trading in the green zone today (6 October 2022).
At 3.14 PM AEDT, the materials company's shares were spotted trading at AU$5.43 apiece, up 6.26% on ASX on Thursday (6 October).
This outperforms ASX 200 Materials index, which was 0.42% higher at 16,190.80 points at 3.18 PM AEDT.
Pilbara Minerals: Latest Developments
Through an ASX filing, Pilbara Minerals announced today (6 October) that its chief financial officer (CFO), Brian Lynn, has decided to leave the firm after serving for more than six years.
After a lengthy and accomplished 30-year career with ASX-listed mining firms, the move reflects his desire to spend more time with his family.
The news came soon after Pilbara announced on 30 September that the company had hired Vince De Carolis as a chief operating officer (COO).
Since joining Pilbara Minerals in June 2016, Lynn has played a crucial role in the company's growth, helping to supervise the Pilgangoora Lithium Project's funding, development, construction, and successful ramp-up.
According to the ASX statement, the company implemented a moderated production plan, undertook a capital raise, and refinanced its debt during the 2019–20 period of depressed lithium prices, which were transformative for the business. Lynn was instrumental in managing the company's finances at this time.
Image Source: © 2022 Kalkine Media ®
Data Source- Company announcement dated 06 October 2022
To promote a smooth transition, Lynn has agreed to stay in the position until a suitable replacement is found. Pilbara Minerals has started a global search using executive search company Heidrick & Struggles.
About Pilbara
ASX-listed lithium firm Pilbara Minerals claims to fully own the world's largest independent hard-rock lithium business. The Pilgangoora Operation creates a spodumene and tantalite concentration in Western Australia's resource-rich Pilbara area.
Pilbara Minerals claims that it is pursuing a growth and diversification strategy and by putting this strategy into practice, the company has emerged as an important player in the rapidly expanding lithium supply chain.
It is to be noted that lithium is high demand these days due to rising demand for clean energy technologies like electric cars and energy storage as the world works toward a sustainable energy future.
Stock performance: Pilbara Minerals' shares have grown over 18% in the last five trading sessions. The company's shares' price has increased more than 36% in the last one month and around 54% on a YTD basis.
