Norton Gold Fields has announced Anthony McLellan has stepped down as director and chairman effective immediately.
Non-executive director Mark Whealtey will assume the role of acting chairman.
In a statement Norton Gold Fields said Mr McLellan wished to cut back on his public company commitments to focus on work in the not-for-profit sector.
He has agreed to acts as a consult to the Board for the next six months to facilitate an orderly transition.
'As the company's new strategy is rolled out, and operating costs are reduced, we expect to see a significant improvement in our results," said Mr McLellan.
"And with the gold price well above A$1,400 per ounce and Paddington starting to perform, I think it is a good time for me to step down," he said.
"With its fresh management team, and subsequent change in direction, I am optimistic about the Company's future. It has been an honour to work for the shareholders of Norton and now it is time for me to focus significant efforts on the not-for-profit sector" said Mr McLellan.
Mark McCauley, a Director, and currently acting as CEO, said, "The Company has begun a search for a new Chairman to replace Mr McLellan. On behalf of all shareholders, I thank Tony for his leadership and have enjoyed working closely with him these last few years."
