Venture Minerals Limited (ASX:VMS, OTC:VTMLF) is making steady progress in revitalising its leadership team after undertaking a review of the company strategy and project portfolio intending to initiate a board renewal process in 2023-24.
The board chose to follow a staged process in moving to a new leadership team, enabling incoming board members to familiarise themselves with the projects and history of the company while delivering an orderly transition in support of ongoing corporate objectives.
Execution of the strategy began last October with the addition of Philippa Leggat to the board as a non-executive director and the simultaneous announcement that Mel Ashton would resign as non-executive chair once a replacement had been found.
John Jetter agreed to remain a non-executive director as part of the handover process and to provide continuity alongside the incoming directors.
Acacia Executive Search was engaged to conduct the recruitment process for a new chair.
The company has today revealed that the recruitment process is well advanced, with interest from several suitable candidates already received.
In light of the board renewal progress, Jetter will resign as non-executive director, effective March 31, 2024, allowing time for the orderly transition to complete.
This also allows Jetter to focus his attention on his role as non-executive chair of Otto Energy Ltd, which is currently undergoing a strategic change and requires his full-time attention.
Jetter joined the Venture board in June 2010 and has been a “highly valued director of the company for over 13 and a half years,” said Ashton.
“He has brought decades of significant corporate, financial and legal expertise that was gained with international tier-one companies to bear on Venture.”