Source : BUSINESS NEWS
Several “very strong candidates” have been identified to replace Mineral Resources’ chair, some of which may be eyed for directorships after a trio tendered their shock resignations in a week.
MinRes chief financial officer Mark Wilson told analysts this morning the ongoing search for a new chairman to replace James McClements following the board’s series of governance failures had also identified potential directors to fill the diminished boardroom.
It comes after Jacqueline McGill, Susie Corlett and Denise McComish all walked away from the board within a week, a move that cast further uncertainty over the future leadership of under-fire MinRes.
The new chair is expected to lead the charge on finding a new managing director should Chris Ellison keep his word and step away from the company he founded within the next 12 to 18 months.
The trio’s resignation hollowed the ethics and governance committee created in the fallout from founder Chris Ellison’s tax evasion scandal and governance failures, including his spate of related-party transactions.
Mr Wilson said the chair appointment was expected in the next six weeks after a number of “very strong candidates” were identified for the crucial role.
“[The process has] also identified a number of directors who, whilst they are extremely interested in the opportunity, felt that they wouldn’t have the bandwidth to be able to commit to the chair role as it will as it would entail at MinRes over the next 12 to 18 months, for time reasons,” Mr Wilson told analysts.
“What I’m saying is that we actually have identified other names through that process.”
In terms of the hollowed-out ethics and governance committee, Mr Wilson said he expected it to continue to run as the board prepared to discuss its future.
“In my comments I noted that a number of the existing, remaining directors who participated and attended those meetings from time to time,” he said.
“The board’s meeting shortly to consider the composition of the various committees. Some of those changes will be interim until the new chair is appointed.”
More to come…
