Euro Manganese Announces CEO Succession Plan

Rhea-AI Summary

The Board of Directors of Euro Manganese announced a CEO succession plan, initiating the search for a new Chief Executive Officer as the company transitions from development to operations. Current CEO Marco Romero will remain in the position until a successor is found. Romero emphasized the timing is optimal due to ongoing feasibility studies and project financing, and he intends to support the new CEO in a different capacity. The company aims to advance the Chvaletice Manganese Project, targeting the battery supply chain in Europe.

Positive

• Initiation of CEO succession plan indicates strategic planning for future growth.
• Current CEO plans to support transition, ensuring stability during leadership change.
• Company well-funded to achieve short-term objectives related to project financing and construction.

Negative

• None.

VANCOUVER, British Columbia, June 16, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF) ("EMN" or the "Company") today announced that it will begin implementation of a CEO succession plan. A search will now begin for a new Chief Executive Officer to carry the Company through its next stage of development, as it transitions from a development company to an operating company.

Marco Romero, the founder of the Company and its current CEO, will remain in the CEO position until a successor is identified and appointed.

Marco Romero said, "I have been looking for the right opportunity to make way for a new CEO for some time and have been working closely with the Board to set the stage for a transition. This current phase, where we are busy completing our feasibility study and EIA, building our demonstration plant, as well as setting the stage for project financing and construction, represents an ideal time to effect that change. We have tangible short-term objectives and a very capable team in place, and we are well funded to achieve those goals. What we need now is to onboard a CEO who has the right credentials to build out our organization and prepare us for life as an operating company at the heart of the European battery supply chain. I plan to remain with the Company in a new role to help our team achieve our key goals and to pursue opportunities beyond the advancement of our current project. I am excited about the future of Euro Manganese."

John Webster, Chairman of the Board, said "Marco has been an inspirational and capable leader for the Company since 2015. He identified and secured the Chvaletice Manganese Project, set the Company’s vision for the future and its high standards, and established a firm foundation for its growth. He also built an outstanding team, developed strategic customer relations, raised the necessary finance to get us through the development phase and set us on the path to success. We look forward to working with him as we begin the next phase of the Company's growth."

About Euro Manganese:

Euro Manganese Inc. is a battery materials company whose principal focus is advancing the development of the Chvaletice Manganese Project, in which it holds a 100% interest. The proposed Project entails re-processing a significant manganese deposit hosted in mine tailings from a decommissioned mine, strategically located in the Czech Republic. The Company’s goal is to become a leading, competitive and environmentally superior primary producer of ultra-high-purity Manganese Products in the heart of Europe, serving the lithium-ion battery industry, as well as other high-technology applications.

This announcement was authorized for release by the CEO of Euro Manganese Inc.

Contact: Euro Manganese Inc.
Marco A. Romero	Fausto Taddei
President & CEO	Vice President, Corporate Development
+1 (604)-681-1010 ext. 101	& Corporate Secretary +1 (604)-681-1010 ext. 105
Media inquiries:
Ron Shewchuk
Director of Communications
+1 604-781-2199
E-mail: info@mn25.ca
Website: www.mn25.ca
Company Address:
#709 -700 West Pender St.
Vancouver, British Columbia, Canada, V6C 1G8

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), or the ASX accepts responsibility for the adequacy or accuracy of this release.

FAQ

What is Euro Manganese planning regarding CEO succession?

Euro Manganese has announced a CEO succession plan to find a new CEO as it transitions to an operating company.

Who is the current CEO of Euro Manganese?

Marco Romero is the current CEO of Euro Manganese and will remain until a successor is appointed.

What project is Euro Manganese focusing on?

Euro Manganese is primarily focused on advancing the Chvaletice Manganese Project in the Czech Republic.

How will the CEO transition impact Euro Manganese's operations?

The transition is expected to facilitate strategic growth as the company moves towards operating status.

What is Euro Manganese's goal with the Chvaletice Manganese Project?

The goal is to become a leading producer of ultra-high-purity manganese products for the European battery industry.