Ex-Fortescue CFO joins Liontown board

Fortescue’s former chief financial officer Ian Wells has joined the ranks of Liontown Resources as an independent non-executive director.  

The ex-Fortescue staffer who resigned in January will replace Anthony Cipriano, who is retiring after nearly 10 years on the board of the lithium hopeful.

Mr Wells is also expected to replace Mr Cipriano as chair of Liontown’s audit committee once he commences in January. 

He joined Fortescue in 2010 and held senior executive finance roles, most recently as chief financial officer from 2018 until earlier this year.

At the time, Mr Wells’ resignation from the Andrew Forrest-led company followed that of former Reserve Bank of Australia deputy governor Guy Debelle and would later be followed by Fiona Hick, Christine Morris and other senior staffers.  

In an ASX statement, Mr Wells said he was excited and grateful for the opportunity to join Liontown as a director as it progresses one of the most significant new lithium projects globally. 

“I look forward to drawing on my operational experience to provide strategic and financial advice and input related to the delivery and operation of a major new resource project,” he said. 

“It is a real privilege to join the team at this pivotal time in the company’s history.” 

The appointment comes as Liontown continues to target first production from Kathleen Valley in mid-2024. 

“We are delighted that Ian has agreed to join the Liontown board at an exciting and very important time in the development of the Kathleen Valley lithium project,” chair Tim Goyder said. 

“He brings substantial development and operational experience that will be invaluable to the company as we complete construction of Kathleen Kelly and move into commissioning and production. 

Outgoing director Mr Cipriano joined Liontown’s board in 2014 and served as lead independent non-executive director, as well as chair of the audit committee and member of the remuneration committee. 

Mr Goyder said Mr Cipriano was a key contributor to the success of the company as it grows from an explorer to soon-to-be lithium miner. 

“Anthony’s financial and business acumen has assisted the board through the assessment of numerous opportunities,” he said.