American Rare Earths (ASX:ARR) - CEO and MD, Chris Gibbs
CEO and MD, Chris Gibbs
Source: Argonaut Gold
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  • American Rare Earths (ARR) appoints a new leader to its ranks, following the stepping down of its CEO and Managing Director, effective from November 1
  • Chris Gibbs has been appointed to the role of Managing Director, CEO and Board member, which comes with a $350,000 yearly salary
  • Mr Gibbs succeeds Keith Middleton, who will step down from his role, but remain a member of the ARR team through a transition period until 2022
  • The appointment comes as American Rare Earths prepares to list on the US OTC, with a current market capitalisation of $60 million
  • American Rare Earths is down 2.56 per cent, trading at 19 cents at 3:15 pm AEDT

American Rare Earths (ARR) has appointed a new leader to its ranks, following the stepping down of its CEO and Managing Director.

Chris Gibbs has been appointed to the role of Managing Director, Chief Executive Officer and Board member, effective from November 1.  The appointment comes with a $350,000 yearly salary and 1,500,000 shares in the company, subject to shareholder approval.

Chris Gibbs will be based initially in Phoenix, Arizona, following his stint at Argonaut Gold as Vice President and General Manager of the Magino Project.

Mr Gibbs succeeds Keith Middleton, who will step down from his role, but will remain a member of the ARR team, continuing to assist with investor relations, strategic matters and business development through a transition period until 2022.

The appointment comes as American Rare Earths prepares to list on the US OTC, with a current market capitalisation of $60 million.

Creagh O’Connor, Chairman of the ARR Board of Directors said the company is moving into the development phase in North America, which requires proven mining skills in the ongoing development of its US projects as the company transitions from exploration through to commercial development.

“The selection of Chris Gibbs to succeed Keith as CEO results from his extensive experience and demonstrated track record of driving growth and operational excellence across all aspects of global operations for industry leading mining companies, particularly in North America,” Creagh O’Connor said.

“We are confident in Chris’s ability to take the company to the next level of operational performance; positioning ARR as a key resource in the strategically critical US Rare Earth industry while scaling the company and its management team to meet the increased demand for American sourced rare earths to reduce reliance on Chinese imports.”

American Rare Earths was down 2.56 per cent, trading at 19 cents at 3:15 pm AEDT.

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