The changes will be effective from the conclusion of the annual general meeting to be held on April 30, 2019.
The company’s two London-based directors, Kevin Tomlinson and Marcus Englebrecht will stand down from the board;
Managing director and CEO Andrew Stewart will be relocated to Australia from Mongolia to take up the chief executive officer position;
The board will now comprise Darryl Clark as executive chairman, Andrew Stewart as CEO, Ganbayar Lkagvasuren as executive director and Michele Muscillo as an independent non-executive director while Hannah Badenach remains as a non-executive director and Noble Resources nominee.
Xanadu's outgoing non-executive chairman Kevin Tomlinson said he was proud of the achievements the team had made during his years with the company.
Tomlinson said: “In light of this strategic focus on the Australian market and the desire to reduce the size of the board, I am handing the reins over to Darryl Clark, who is based in Melbourne, to redirect the efforts to the Southern Hemisphere.”
Chairman-elect Darryl Clark said: “We are rebuilding our efforts to connect with the Australian market and with the focus being on our new gold discovery, the high-grade gold at Stockwork Hill and soliciting interest from well-recognised industry players.
“These changes also reflect the company’s renewed focus on cutting general administration costs with a focus on money into direct exploration.”