High Peak Royalties Ltd (ASX:HPR) is changing the composition of its board of directors in advance of the annual general meeting later this year as part of a strategic restructure and renewal process.
As a part of the proposed changes, Andy Carroll has stepped down as chairman effective today, but will continue to serve the company as a non-executive director.
The board has expressed gratitude to Carroll for his efforts as chairman since his appointment and for his continuing involvement as a non-executive director henceforth.
Interim chairman appointed
Following the resignation of Caroll, Geoffrey King, the current deputy chairman, will serve as the interim chairman until the company’s annual general meeting, and his previous position of deputy chairman will cease thereafter.
Anthony Wooles is supportive of the transition of the chairmanship role and will continue to serve as a non-executive director.
As a result of the composition changes to the board, the directors of the company will look to identify and nominate new persons to the board as part of a strategic board restructure and renewal process, which is envisaged to take place over the coming months.