NeuRizer (ASX: $NRZ) Managing Director Position Update

NeuRizer Limited (ASX: $NRZ) has announced the redundancy of the Managing Director position as a result of a corporate review. Executive Chairman Mr Peters will take on the responsibilities previously held by the Managing Director, with Phil Staveley ceasing the role on the 15th of January 2024.

Executive Chairman Mr Peters' Commentary

Phil joined NRZ in 2015 firstly as CFO and then as Managing Director (MD). So much has been achieved in his time as MD and there are too many examples to list here. Most importantly these achievements were made during very stressful times. The changing relationship between China and Australia directly impacted on our progress. COVID also caused issues that impacted on our progress. The changing attitude to both fossil fuels and gas has also created significant challenges. We will miss Phil's input and contribution to our team and we wish him all the best in both his health and any of his endeavours.

NeuRizer (ASX: $NRZ) Managing Director Position Update Summary

NeuRizer Limited (ASX: $NRZ) has made the decision to make the Managing Director position redundant following a corporate review. Executive Chairman Mr Peters will take on the responsibilities previously held by the Managing Director. The company expressed gratitude for Phil Staveley's contributions and achievements during his tenure. NeuRizer is committed to being a carbon neutral organisation and has achieved Climate Active certification. The company is progressing the NeuRizer Urea Project (NRUP), which aims to deliver low-cost, high-quality nitrogen-based fertiliser. The NRUP is intended to initially produce 1Mtpa of urea fertiliser with potential to increase to 2Mtpa, contributing to Australia's sovereign manufacturing capability for fertiliser and supporting the agricultural food production sector. NeuRizer's decarbonisation pathway for the NRUP seeks to achieve net zero carbon emissions from its operations planned to commence in 2025, aligning with the company's commitment to a carbon neutral world.