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Caerus Mineral Resources PLC - copper miner in Cyprus - Chief Executive Officer Martyn Churchouse and Chair Michael Johnson, who co-founded Caerus, both will step down on May 16. Churchouse, who will stay in a senior consulting role to the Caerus board, will be replaced as CEO by Charles Long, a mining specialist. Long has ‘stockbroking, management and business development experience in the extractive industries and financial services sectors,’ Caerus explains.
‘The appointment of Mr Long is to accommodate and promote the next phase of growth in the company's business plan and oversee and advance expansion plans into Africa,’ the mining firm adds.
Brian Rowbotham will replace retiring Johnson as chair. Rowbotham has experience in the financial services sector including investment banking, stockbroking, fund management and private equity, Caerus says. Long and Rowbotham will start their roles on May 16.
Richard Hawken, who will manage business acquisitions in Namibia, Botswana and Zambia, joins Caerus's board as non-executive director.
Current stock price: 13.10 pence, down 4.7% on Friday
12-month change: down 43%
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