Hardman Resources managing director Ted Ellyard (pictured) surprised the market by announcing he would retire for personal reasons, including the need for medical treatment. He intends to remain on the board as a non-executive director, at least until a new chief executive is appointed. Executive director Scott Spencer will be acting chief executive. Hardman’s main asset is the Chinguetti oil project in West Africa. Its partner in that project, Woodside Petroleum, announced the departure of chief financial officer Doug Bailey.