Total
0
Shares
Sheffield Resources (ASX:SFX) - Outgoing Managing Director & CEO, Bruce McFadzean - The Market Herald
Outgoing Managing Director & CEO, Bruce McFadzean
Source: Business News
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Sheffield Resources (SFX) has made a swathe of changes across its board and management team as the company's Thunderbird project moves to execution
  • The company's Managing Director and Chief Executive Officer of close to six years, Bruce McFadzean is set to step down from the top spot, effective July 2021
  • In further board moves, company director Bruce Griffin has been appointed to an executive chair role to fully utilise his industry knowledge
  • SFX's current Non-Executive Chair John Richard is also set to move to a newly created Lead Independent Director role
  • Investors appear to have responded somewhat favourably to the announcement, with Sheffield Resources shares ending the session up 10.4 per cent higher at 42.5 cents

Sheffield Resources (SFX) has made a swathe of changes across its board and management team as the company's Thunderbird project moves to execution.

Sheffield's Managing Director and Chief Executive Officer of nearly six years, Bruce McFadzean, will step down from is role, effective July 2021, and assume a non-executive director position thereon.

He will continue to serve as a director of the Kimberley Minerals Sands joint venture.

Sheffield's Thunderbird deposit is situated 25 kilometres north of the sealed Great Northern Highway, between Derby and Broome in Western Australia. It is considered one of the largest mineral sands deposits to be discovered in the last 30 years.

In further board moves, company director Bruce Griffin has been appointed to an executive chair role effective immediately.

According to Sheffield, the Board concluded the role would be the best way for the company to utilise his industry experience and also acknowledges his standing in the mineral sands industry.

SFX's current Non-Executive Chair John Richard is also set to move to a newly created Lead Independent Director role, which the company says completes the reformulation of the board and management which commenced 18 months ago.

Investors appear to have responded somewhat favourably to the announcement, with Sheffield Resources shares ending the session up 10.4 per cent higher at 42.5 cents.

SFX by the numbers
More From The Market Herald
The Market Herald Video

" Salter Brothers Emerging Companies (ASX:SB2) launches $20M IPO

Salter Brothers Emerging Companies (SB2) is getting ready to list on the ASX, launching a $20 million initial public offering (IPO).
Australasian Gold (ASX:A8G) set to shake up ASX as the new gold stock on the block

" Australasian Gold’s (ASX:A8G) securities begin trading after $5.5M IPO

Australasian Gold’s (A8G) securities have begun trading on the ASX, after the company successfully raised $5.5 million via an initial public offering (IPO).
Visible gold find sends Odyssey Gold shares soaring (ASX:ODY)

" Visible gold find sends Odyssey Gold shares soaring (ASX:ODY)

Odyssey Gold’s (ODY) share price has leapt 83 per cent after the company encountered “significant” visible gold from its Bottle Dump deposit.
Nearmap (ASX:NEA) - Managing Director & CEO, Rob Newman - The Market Herald

" Eagle View, Pictometry hit Nearmap (ASX:NEA) with U.S. court case

Nearmap’s (NEA) U.S. subsidiary, Nearmap US, is getting taken to court by competitors Eagle View Technologies and Pictometry International.