Board and Executive Changes at Andromeda Metals Limited

Andromeda Metals Limited (ASX:ADN) has announced significant board and executive changes. Luke Anderson has resigned as Chief Executive Officer and Managing Director due to health reasons. Sue-Ann Higgins has taken over as the Executive Chair, and Sarah Clarke has been appointed as the Acting CEO. Mick Wilkes will continue as a Non-executive Director to assist with financing discussions for the Great White Project.

Executive Commentary on Board and Executive Changes

Sue-Ann Higgins, Andromeda's Executive Chair, expressed regret over Luke Anderson's resignation but highlighted that the company now has the necessary elements in place to progress funding discussions for the Great White Project. She emphasized the skills and experience of the Board and Management in advancing funding discussions to a final investment decision and bringing the Great White Project into development. Luke Anderson also conveyed his best wishes to the company, affirming that his decision was not a reflection of the company's high-quality resources or the strong economics underpinning the Project.

Summary of Board and Executive Changes at Andromeda Metals Limited

Andromeda Metals Limited (ASX:ADN) has undergone significant board and executive changes with the resignation of Luke Anderson as Chief Executive Officer and Managing Director. Sue-Ann Higgins has taken on the role of Executive Chair, and Sarah Clarke has been appointed as the Acting CEO. Mick Wilkes will continue as a Non-executive Director to assist with financing discussions for the Great White Project. The company aims to progress funding discussions for the Project and bring it into development. The announcement also outlined the key terms of remuneration for Sarah Clarke, including total fixed remuneration, short-term and long-term incentives, termination notice period, and a retention bonus upon the Project's full funding. Additionally, it was mentioned that Ms Higgins' director's fees will be increased to $160,000 with all other terms and conditions remaining unchanged.