True North Copper has announced a number of changes to its Board, including commencing a hiring process for the recruitment of a new Managing Director.
Current Non-Executive Chairman, Ian McAleese, will assume the role of Executive Chairman.
Marty Costello will step down as Managing Director but will remain on the Board as Executive Director Business Development.
True North Copper also said that it is actively seeking to recruit a new Managing Director and expects that an appointment will be announced within May or June 2024.
When the new Managing Director commences, it is expected that Mr McAleese will revert to his former role of Non-Executive Chairman. The company said that during the period that Mr McAleese is Executive Chairman, his annualised remuneration will be increased from $100,000 per annum including superannuation to $200,000 per annum including superannuation. True North Copper said that all other material terms of Mr McAleese’s appointment remain unchanged.
Mr McAleese said, “On behalf of the Board I wish to thank Marty for his tireless work and enthusiasm as the founder of True North Copper by leading the company, which is now primed to become Australia’s next copper producer.”
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