Fertoz Ltd's (ASX:FTZ) Adrian Byass has tendered his resignation as the company’s non-executive director after seven years with the organic phosphate development company, a move attributed to his workload and a change in the company’s focus.
The increasing demands of Byass' executive responsibilities elsewhere in the resources sector, combined with Fertoz's focus in transitioning from resource asset development to global sales and marketing, have limited Byass' capacity to fulfil his duties to his high personal standards as a non-executive director of a listed company.
FTZ's board and management have thanked the outgoing director for his years of dedication and contribution to the company and wish him well in his future endeavours.
"Provided valuable input"
Fertoz executive chairman Pat Avery said: “Adrian has helped to steer Fertoz as a listed entity for more than seven years.
“He provided valuable input into the development of a successful organic phosphate sales and marketing business within the company, with operations spanning North America, Australia, New Zealand and now growing into selected South East Asian agricultural markets.
"Adrian's input into the strategy which saw Fertoz pursue the highest-quality North American rock phosphate leases and stockpiles has been invaluable, and today represents a valuable asset to Fertoz shareholders and a major barrier to new entrants who would seek to meet the expanding demand for organic registered phosphate in North America."
Over the last few months, Fertoz has been appointing additional distributors and joint venture partners.
The company has progressed discussions with numerous potential distributors and third-party fertiliser processors in the US, with a focus on supply to the western regions, particularly California.
Fertoz also opened discussions with mid-sized fertiliser companies without organic divisions to promote potential joint ventures.
Going forward, the company plans to expand sales and drive growth from multiple distributor deals now in place and progress discussions with potential distributors and joint venture partners to grow the footprint in California and the Pacific North West.
It is also managing costs in response to the COVID-19 pandemic and researching potential for additional funding from both the Canadian and Australian governments.
Fertoz is also helping existing partners to affect sales during the pandemic and working with logistics providers and government agencies to help overcome supply disruptions due to COVID-19.