12th Apr 2019 12:04
LONDON (Alliance News) - Tri-Star Resources PLC on Friday said that Acting Chief Executive Officer & Chief Financial Officer Karen O'Mahony will step down from her role at the end of April.
O'Mahony took on both the roles in March 2018. She will be replaced by David Facey who will be appointed as CEO and CFO on the day she leaves.
O'Mahony will, however, remain as a special adviser to the company in order to ensure a smooth transition.
Facey has over 20 years' experience in corporate finance and equity capital markets, Tri-Star said. He is currently finance director of AIM-listed diamond producer BlueRock Diamonds PLC.
Furthermore, Tri-Star Chair Mark Wellesley-Wood is also stepping down from his position, with immediate effect. Independent Non-Executive Director Adrian Collins will replace him as chair.
Collins commented: "The past few years have been challenging for the company and we are grateful to the continued support of our shareholders. We anticipate reorganisation alongside these board changes will enable a substantial reduction in the annual running costs of the company."
Tri-Star shares were trading up 2.4% at 40.44 pence each on Friday.
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