LONDON - Tirupati Graphite plc (LSE:TGR), a producer of flake graphite, announced today a significant overhaul of its Board of Directors, a strategic move aimed at enhancing the company’s corporate governance and addressing its current financial and operational challenges.
The company has appointed three new Non-Executive Directors: Anthony James Nieuwenhuys, Murat Dogan Erden, and Christian St. John-Dennis. Each brings a wealth of experience from various sectors of the finance and mining industries. Nieuwenhuys is the CEO of Zeb Nickel Corp and Kopanag Gold Empowerment company, Erden is a director of Arch Emerging Markets Partners Limited, and St. John-Dennis is the CEO of Optiva Securities Limited.
This restructuring follows the resignation of Puruvi Poddar from the Board. Poddar will continue her involvement with the company as Chief of Corporate & Business Development, focusing on strategic and commercial initiatives.
The changes come at a critical time for Tirupati, as the company is currently working through an audit process, seeking funding solutions, and addressing a trading suspension. In addition to the recent appointments, the company is actively engaging with potential CFO candidates and seeking an Independent (LON:IOG) Non-Executive Director with experience in chairing an Audit Committee.
Michael Lynch Bell, Non-Executive Chairman of Tirupati, expressed confidence that the new appointments will contribute significantly to the company’s growth and assist in meeting its financing needs. He also acknowledged Poddar’s past contributions to the Board and welcomed her continued role in business development.
Tirupati Graphite is known for its emphasis on green applications and sustainable operations. The company operates two key projects in Madagascar with a combined nameplate production capacity of 30,000 tons per annum, although production is currently paused. It also holds two advanced-stage graphite projects in Mozambique.
This announcement, based on a press release statement, marks a pivotal moment for Tirupati as it aims to reposition itself and focus on its growth agenda amid the global energy transition.
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