Tirupati terminates Shishir Poddar as co-CEO, unspecified investigations continue
London-listed Tirupati Graphite has terminated Shishir Poddar as co-CEO, with immediate effect.
The company says in a statement that it reserves its right to continue its investigations into all allegations it has received to date, which may result in further remedial or legal actions.
In January, the company announced that it had suspended Poddar and later removed him as director, pending further investigations, but did not provide further information as to what was being investigated.
Anthony James Nieuwenhuys will assume the role of sole CEO and lead the company during the next phase of its development. He was appointed as executive director and co-CEO alongside Poddar in January, in anticipation of a full executive power transfer to Nieuwenhuys in due course.
Nieuwenhuys is currently in Madagascar on his second site visit overseeing the continued ramp-up of the restarted production operations at Vatomina and liaising with the ground team, suppliers and officials.
“I very much look forward to continuing the journey of renewal of our company, with the new team and clear leadership of James as CEO. We are well positioned to take advantage of the favourable market conditions for graphite and further develop our company to become one of the leading companies in the sector,” Tirupati executive chairperson Mark Rollins comments.
Tirupati has had a host of executive and board changes in recent months. As previously reported by Mining Weekly, Tirupati in December announced a restructuring of its board, which included the appointments of Michael Lynch-Bell as nonexecutive chairperson, as well as Nieuwenhuys, Murat Erden and Christan St John-Dennis as nonexecutive directors, following a shareholder-requisitioned extraordinary general meeting.
However, Erden soon after resigned from his role as nonexecutive director, with immediate effect in February, to take up an external executive position.
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