Paladin boss steps down

Paladin Energy Limited which runs the Kayerekera Uranium Project in Malawi has announced the stepping down of  its Board and Managing Director and CEO John Borshoff  from his role with the company.

Borshoff quits as Paladin CEO

Borshoff quits as Paladin CEO

Borshoff calls it quits as Paladin chief executive

Borshoff calls it quits
as Paladin chief executive

The Company’s  non-executive chairman Rick Crabb says in a statement that  Paladin   board acknowledges Borshoff’s “unquestioned dedication and significant contribution to Paladin, a company hefounded more than 21 years ago.”

He says under Borshoff’s stewardship, Paladin has built a unique position in the uranium mining industry and he is recognised as a world authority in this realm.

“On behalf of the Board, I cannot thank John enough for having the vision, tenacity and spirit to create and lead Paladin. John will be dearly missed by the Paladin team and we wish him  the best in future endeavours,” says Crabb.

A process to identify a suitable new CEO is now underway however the company has appointed Alexander Molyneux  as an interim CEO.

According to the statement, Borshoff will assist in a transitional role during the six month notice period provided for in his employment contract.

“Mr Borshoff has assured the Board of his intention to assist to the fullest extent required during this transitional period. The details of Mr Borshoff’s entitlements under his executive services agreement in connection with the cessation of his employment are contained in Paladin’s 2014 annual report,” reads the statement.

Meanwhile the company requested that the halt in trading of its shares be lifted.

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1 year 2 months ago

Dpp should follow suit