Sayona hunting for independent directors
PERTH (miningweekly.com) – Lithium miner Sayona Mining is hunting for new nonexecutive directors and an independent chairperson as part of its governance revamp.
The company on Wednesday said that the board had appointed executive search firms to undertake a global search for suitably qualified independent directors, with at least two independent directors to be appointed before the company’s annual general meeting in November.
The miner said in a statement that the proposed appointments would allow for the formation of two key corporate governance committees, a combined nomination and remuneration, and an audit and risk, committee.
Furthermore, Sayona has also appointed a remuneration consultant to review remuneration practices and performance‐based structures to ensure that remuneration outcomes are aligned with shareholder outcomes. This will include a review of remuneration for key executive management as well as nonexecutive directors.
“Sayona has grown enormously over the past two years, rising from a junior explorer to become a leading North American producer of lithium and earning promotion to the benchmark S&P/ASX200 index, with current market capitalisation of around $1.8-billion,” nonexecutive director James Brown said.
“The board recognises the critical importance of strong corporate governance and is confident that the initiatives outlined will facilitate enhanced transparency, accountability and long‐term value creation, befitting our status as one of Australia’s leading listed miners.”
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