Straits Resources is on the lookout for a new chairman, following the resignation of incumbent Adrian Redlich less than six months after taking the job.
Mr Redlich, who was appointed in November last year, is stepping aside to focus on his funds management group, Merricks Capital.
Managing director Andre Labuschagne will assume the role of chairman until a candidate can be found.
“Throughout his short tenure as chairman of Straits, Adrian has provided direction and support to the company and its executives,” Mr Labuschagne said in a statement.
“The board warmly thanks Adrian for his contribution to Straits and wishes him well for the future.”
At close of trade today, Straits Resources shares had gained 11 per cent, trading at 3 cents.