Suvo Strategic Minerals Ltd (ASX:SUV) has appointed a new chief executive officer and made a number of board transitions in order to more fully focus on future value enhancement to support the next phase of operations.
Hugh Thomas has been appointed as the company’s CEO while executive directors Aaron Banks and Henk Ludik transition to interim non-executive chairman and non-executive director respectively.
New CEO
The appointment of Thomas is expected to support Suvo’s growth plans as he has more than 35 years of industry experience and brings a strong mix of commercial and operational experience, having held several executive positions across the natural resources sector.
His previous positions include managing director and head of Asia Pacific Natural Resources for both JP Morgan and Morgan Stanley (NYSE:MS) in Hong Kong, head of Natural Resources Investment Banking at Investec Bank in Sydney and partner at Deloitte Corporate Finance Pty Ltd.
Extensive experience
Another feather in Suvo’s cap is the new CEO’s extensive experience working with a number of listed companies, having held both management and board positions with Robust Resources (ASX:ROL), Indochine Mining, NT Minerals Limited and the unlisted International Base Metals.
Thomas’ appointment and the board transitions follow the successful upgrade and commissioning of the Pittong plant in Victoria, which validated an annual nameplate processing capacity of ~60,000 tonnes of hydrous kaolin.
“Positive inflexion point”
Incoming CEO Thomas said: “The opportunity to join Suvo comes at a positive inflexion point with the recent successful upgrade of the Pittong plant.
"I am looking forward to working with such a capable team that was able to deliver the plant upgrade on time and on budget.
"With the global demand for hydrous kaolin continuing to grow, forecasts remain robust and Suvo is extremely well positioned to leverage these markets as it unlocks the potential of its Pittong operations in Victoria.
"With additional sales orders on the horizon and the near-term ability to start generating positive cashflows for the company, I look forward to adding my experience and supporting the company’s next phase of operations and development of its superior portfolio of assets.”
Hydrous kaolin producer
As executive chair, Henk Ludik guided the upgrade of the Pittong plant back to nameplate and Suvo can now begin to fully leverage its position as the only operating hydrous kaolin producer in Australia.
With the plant back at nameplate capacity, the focus of the board and management team is to execute the SUV sales strategy.
“Strong blend of expertise”
Interim non-executive chairman Aaron Banks said: “We are delighted to have Hugh join as CEO. Hugh has a successful track record in the natural resources sector and brings to the company a strong blend of corporate and operational expertise.
"Our ability to attract Hugh is a testament to the quality of our Pittong operation and wider portfolio of assets and he joins Suvo with a clear vision to capitalise on the work completed to date, at a time when global demand for hydrous kaolin and silica sand is continuing to strengthen.
"With a strong commercial and development background, Hugh’s appointment is complimentary and means all the C-suite executive positions have now been filled to support the next phase of operations. We look forward to Hugh’s contributions and leadership.
"As Hugh joins and to balance the board to match the C-suite executive skillset, I will transition from executive director to interim non-executive chairman and previous executive chairman Henk Ludik will continue on the board as a non-executive director.”
Capable team
The CEO appointment rounds out a highly capable, dedicated and experienced team.
Chief operating officer Hanno Van Der Merwe has coordinated the ‘on time and on budget’ plant upgrade through the challenging times of COVID and will continue to manage the Pittong plant operations.
The company’s sales & marketing manager Julian Anthony has been travelling domestically and internationally since his appointment meeting with existing and potential customers, and importantly having now been with the company for three months, is familiar with the SUV products, potential products and overall market dynamics.
Anthony’s focus now moves to filling the available plant capacity and optimising product mix.