CEO and Managing Director, Paul Cronin, has resigned from the Board and is stepping down today, on 9th August, relocating to Australia for family reasons.
Laura Tyler will take over as Interim Chief Executive Officer, while Sanela Karic will become Executive Director for Corporate Affairs.
Additionally, Eric Rasmussen, Non-Executive Director, will chair the Sustainability Committee.
Paul Cronin reflected on his tenure, stating, “It is vital for the success of any company that management recognises the need to evolve, as the company evolves. Now is the appropriate time for me to step down—for the Company, and for me personally. Living and working in Bosnia and Herzegovina at the Project has been instrumental to successfully steering the Company through permitting, construction, and the commencement of production, but now is the time for new leadership.”
Laura Tyler, currently a Non-Executive Director at Adriatic, brings a wealth of experience from her previous roles as Chief Technical Officer at BHP and in executive leadership for the Olympic Dam, Cannington, and Ekati underground mines.
Sanela Karic, a Non-Executive Director for four years, has been instrumental in establishing Adriatic’s sustainability programs and will now lead the Company’s operations in Bosnia and Herzegovina.
Michael Rawlinson, Chairman of Adriatic, expressed his gratitude to Paul Cronin for his leadership and vision, stating, “Paul has led Adriatic on an incredible journey from exploration junior to producer in just seven years. We wish him well as he returns to Australia and are grateful for his offer to continue working with us as a consultant to ensure a smooth leadership transition.”
Rawlinson also praised the new appointments, highlighting Laura Tyler’s extensive experience and enthusiasm and Sanela Karic’s profound connection with local staff and stakeholders. He added that Eric Rasmussen’s wealth of experience as former Head of Natural Resources at the EBRD would be invaluable in his new role as Chair of the Sustainability Committee.
The Board will soon commence a global search for a new permanent CEO. The terms of service agreements for Ms Tyler and Ms Karic are being finalised and will be announced in accordance with ASX Listing Rule 3.16 once completed.
