As it embarks on an expansion across the United States, American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF) has strengthened its Board of Directors by appointing seasoned businessperson Kenneth H. Traub.
Traub brings three decades of experience as a chief executive, chairman, director, investor and consultant in public companies, driving strategic, financial, operational and governance enhancements that have proven to augment shareholder value.
Since 2019, he has been serving as the managing partner of Delta Value Advisors, a consultancy and investment advisory firm specialising in corporate governance and turnarounds.
Additionally, he is on the Board of Directors and serves as chairman of the Nominating and Corporate Governance Committee for Tidewater Inc, a global player in offshore support vessels for the energy sector.
Strategic move
“We are excited to add Ken to our board,” American Rare Earths chairman Creagh O’Connor said.
“His widespread experience as a successful corporate leader, where he has built significant shareholder value will be invaluable at this critically important time for our company.
“We are fortunate to have a leader with Ken's talents as we embark on our plan to become a leading US-based supplier of rare earth elements.”
Extensive experience
Traub's history in public company leadership includes roles at American Bank Note Holographics, where he served as president, chief executive officer and director and at Voxware, Inc, which he co-founded, as executive vice president, chief financial officer and director.
He also served as chairman of the board for MRV Communications Inc, DSP Group Inc, Intermolecular Inc (NASDAQ:IMI (LON:IMI)), among others.
Traub received the Certified Director designation from the National Association of Corporate Directors in 2023.
Raring to go
"I am delighted to join the Board of Directors of American Rare Earths," Traub said of his appointment.
"Rare earth elements play a crucial role in critical industries such as electronics, renewable energy technologies, and defence systems.
“The demand for these materials is on a rapid upswing. However, the current market is heavily dominated by China, accounting for approximately 85% of the global supply.
“American Rare Earths has the potential to emerge as a leading domestic provider of these critical materials.
“This not only represents a significant and exciting business opportunity, but also holds pivotal importance for American financial and national security interests."
Traub holds a BA from Emory College, earned in 1983, and an MBA from Harvard Business School, conferred in 1988.