Energy Fuels plans April 2026 CEO succession

Energy Fuels Inc. has outlined a planned leadership transition at the top of the company.

Rhea-AI Filing Summary

Energy Fuels Inc. has outlined a planned leadership transition at the top of the company. On April 15, 2026, President Ross Bhappu is expected to become President and Chief Executive Officer and join the Board of Directors, consistent with previously announced succession plans and his existing employment agreement.

Current CEO Mark Chalmers will retire from his role on the same date and resign from the Board. He will remain with the company exclusively as a consultant for two years to support Mr. Bhappu and other leaders on current and future growth initiatives. The company states that Mr. Chalmers’ resignation from the Board is not due to any disagreement regarding operations, policies, or practices.

The filing highlights Mr. Bhappu’s more than 35 years of mining-sector experience, including nearly 25 years at Resource Capital Funds in technical, financial, and leadership roles, and prior positions at Cyprus Minerals Company, Newmont Mining Corporation, and GTN Copper Corporation.

Insights

Corporate governance analyst

Energy Fuels details an orderly, pre-planned CEO succession with continued access to the outgoing CEO’s expertise.

The company describes a structured transition where President Ross Bhappu becomes President and CEO and a Director on April 15, 2026. This follows succession plans already in place and an existing employment agreement, signaling that the leadership change has been anticipated rather than reactive.

Outgoing CEO Mark Chalmers will retire and leave the Board on the same date, while staying on as an exclusive consultant for two years to support growth initiatives. The company explicitly notes his resignation is not due to disagreements on operations, policies, or practices, which may reassure some investors about continuity.

The filing emphasizes Mr. Bhappu’s long mining-industry track record and prior senior roles in project evaluation, finance, and M&A. Actual impact on strategy and performance will depend on how his leadership style and priorities translate into future operational and capital-allocation decisions, which will become clearer in subsequent company disclosures.

8-K Event Classification

2 items: 5.02, 9.01

2 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

What leadership change did Energy Fuels Inc. (UUUU) announce in this 8-K?

Energy Fuels announced a CEO succession in which President Ross Bhappu will become President and Chief Executive Officer on April 15, 2026. He will also join the Board, reflecting previously announced succession plans and his existing employment agreement.

When will Ross Bhappu become CEO of Energy Fuels Inc. (UUUU)?

Ross Bhappu is expected to assume the roles of President and Chief Executive Officer, and become a Director, effective April 15, 2026. This timing aligns with the company’s succession plans and the planned retirement date of current CEO Mark Chalmers.

What is happening to current Energy Fuels (UUUU) CEO Mark Chalmers?

Mark Chalmers will retire as Chief Executive Officer and resign from the Board effective April 15, 2026. He will continue exclusively as a consultant for two years, helping support Ross Bhappu and other leaders with current and future growth initiatives.

Did Mark Chalmers resign from the Energy Fuels (UUUU) Board due to a disagreement?

No. The filing states that Mark Chalmers’ resignation from the Board upon his retirement is not due to any disagreement with the company regarding its operations, policies, or practices. The change is described as part of a planned leadership transition.

What relevant experience does incoming Energy Fuels (UUUU) CEO Ross Bhappu have?

Ross Bhappu brings over 35 years of mining experience, including nearly 25 years at Resource Capital Funds. His background covers technical and financial evaluation, project development, valuation, project finance, mergers and acquisitions, and capital sourcing in the mining and minerals sector.

Will Mark Chalmers remain involved with Energy Fuels (UUUU) after retiring as CEO?

Yes. After retiring as CEO and resigning from the Board on April 15, 2026, Mark Chalmers will serve exclusively as a consultant to Energy Fuels for two years. He will support Ross Bhappu and other executives on current and future growth initiatives.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/03/2026 - 05:27 PM Learn about SEC filing dates

false 2026-02-25 0001385849 Energy Fuels Inc. 0001385849 2026-02-25 2026-02-25

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 3, 2026 ( February 25, 2026)

ENERGY FUELS INC.
(Exact name of registrant as specified in its charter)

Ontario	001-36204	98-1067994
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

225 Union Blvd., Suite 600
Lakewood, Colorado, United States 80228
(Address of principal executive offices) (ZIP Code)

Registrant’s telephone number, including area code: (303) 974-2140

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbols		Name of each exchange on which registered
Common shares, no par value		UUUU		NYSE American LLC
		EFR		Toronto Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 26, 2026, Energy Fuels Inc. (the “Company”) announced that it expects to appoint Mr. Ross Bhappu, the President of the Company, to the role of President and Chief Executive Officer of the Company and as a Director effective April 15, 2026, consistent with the Company’s previously announced succession plans and in accordance with his existing employment agreement.

Concurrently with Mr. Bhappu's appointment, Mr. Mark Chalmers, the current Chief Executive Officer, will be retiring on April 15, 2026 from his role as Chief Executive Officer, consistent with his planned retirement date. Upon his retirement, Mr. Chalmers will continue as a consultant to the Company exclusively for two years to support, as required, Mr. Bhappu and others in the Company with current and future growth initiatives. Mr. Chalmers will also be resigning from his position as a Director of the Company upon his retirement. Mr. Chalmers' resignation from the Board of Directors is not due to any disagreement with the Company on any matters related to the Company's operations, policies or practices.

Mr. Bhappu was originally appointed President of the Company effective August 4, 2025. Mr. Bhappu, age 65, brings over 35 years of experience in mining to the Company, including nearly 25 years with Resource Capital Funds, where he provided both technical and financial evaluation and support in project identification, analysis, development, valuation, project finance, mergers and acquisitions and sourcing of capital from private and public markets exclusively for the mining and minerals sector. Mr. Bhappu completed his Ph.D. degree in Mineral Economics at the Colorado School of Mines and B.S. and M.S. degrees in Metallurgical Engineering at the University of Arizona.  He began his professional career with Cyprus Minerals Company in Denver, Colorado and Miami, Arizona where he served in both technical and financial roles before joining Newmont Mining Corporation in Denver where he served as Director of Business Development.  Mr. Bhappu gained substantial expertise in copper concentrate marketing while at Newmont and served as CEO of GTN Copper Corporation for three years with a focus on acquiring and redeveloping a brownfield copper project in Arizona prior to joining Resource Capital Funds in 2001. During his 25 year tenure at Resource Capital Funds, where he served in multiple roles including as Head of Private Equity Funds, Mr. Bhappu was instrumental in the acquisition of Mountain Pass, the only operating rare earth mine in the U.S., and the recreation of Molycorp, Inc. where he served as Chair of the Board from 2008-2013. Mr. Bhappu retired from Resource Capital Funds just prior to joining the Company.

There are no family relationships among Mr. Bhappu and the members of the Board of Directors or the other members of senior management of the Company. Mr. Bhappu is not a party to any transaction with the Company that would require disclosure under Item 404(a) of Regulation S-K.

In conjunction with Mr. Bhappu's appointment as President of the Company effective August 4, 2025, Mr. Bhappu entered into an employment agreement with the Company dated July 30, 2025. Mr. Bhappu's employment agreement, as well as a description of the employment agreement, is contained in the Company's Form 8-K filed with the U.S. Securities and Exchange Commission on August 4, 2025 and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

10.1	Employment Agreement by and between Energy Fuels Resources (USA) Inc., Energy Fuels Inc., and Ross R. Bhappu dated July 30, 2025 (incorporated by reference to Exhibit 10.1 of the Company's Form 8-K filed with the U.S. Securities and Exchange Commission on August 4, 2025).
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	ENERGY FUELS INC.
	(Registrant)
Dated: March 3, 2026	By: /s/ David C. Frydenlund David C. Frydenlund Executive Vice President and Chief Legal Officer

Filing Exhibits & Attachments

5 documents

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