Yancoal has announced that Helen Gillies has stepped down as a Yancoal independent non-executive director.
The resignation took effect from February 9. As a result, Gillies has also stepped down from her roles as chair of the Yancoal nomination and remuneration committee and as a member of the company’s audit and risk management committee.
Gillies cited her intention to devote more time to her other business engagements as the reason for her departure.
Gillies first joined Yancoal as an independent non-executive director in January 2018.
During her tenure, she oversaw many of Yancoal’s corporate initiatives, including the dual listing on the Hong Kong Exchange.
“The board extends its sincere gratitude to Ms Gillies for her invaluable service and significant contributions to the company over the past six years since joining the board,” Yancoal said. “The board wishes Ms Gillies all the very best in her future endeavours.”
The current Yancoal board comprises one executive director, four non-executive directors and two independent non-executive directors.
With Gillies’ departure and the company having less independent non-executive directors than required under the Australian Security Exchnage’s Listing Rules 3.10A, Yancoal has confirmed that it’s currently looking to appoint a new independent non-executive director.
Yancoal recently released its December 2023 quarter report, which confirmed a four per cent increase in coal production, among other highlights.
The company has also contributed to a $4400 donation to the Collie Skate Park through the Premier Coal community support program and raised mental health awareness through the ‘not weak to speak Wednesday’ initiative.
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