As a result of Harebottle’s resignation, the Board has appointed Mark Summers, currently the company’s Chief Financial Officer, as its interim CEO.
Harebottle’s contract of employment with the company allows for a three-month notice period, which will be used to ensure a smooth transition period. The company intends to initiate a review of its senior management requirements in due course.
Lord Robin Renwick, Chairman, commented: “I and the Board have been extremely grateful for the contribution Ian has made as CEO of Kropz Plc. He kindly undertook not to leave until the company had made progress towards a solution for Elandsfontein which, with thanks to the support of African Rainbow Capital, is now the case. We wish him well in his future endeavours.”
Harebottle commented: “It has been a privilege to lead Kropz since its IPO, during what has been a challenging period for our industry and the company. Importantly at Elandsfontein we now have a clear pathway to production, supported by a comprehensive funding solution that is at an advanced stage of negotiation. Significant progress has also been achieved at Hinda and for these reasons I believe it is the right time for me to hand over the reins and pursue other challenges. I would like to thank the Board, management team and shareholders for all their support and I wish them every success for the future."