MHM Appoints Phil Thick as Managing Director & CEO
ASX Release – 18 July 2012
- Phil Thick appointed Managing Director and Chief Executive Officer
- Frank Rogers assumes role of Technological Director in a continued executive board position
- Board and management restructure effective immediately
- Another independent Non-executive Director to be appointed in the near future
- US-based Managing Director to be appointed next year
The Board of MHM Metals Limited (ASX:MHM) has appointed Mr Phil Thick as
Managing Director and Chief Executive Officer, with Frank Rogers assuming the
role of Technological Director in an ongoing executive board role. These
changes have been implemented and are effective immediately.
As the focus of MHM’s business shifts to the US over the next 12 months with
the planned construction of a major processing facility in Kentucky, the
company also expects to appoint a US-based Managing Director next year.
The management changes enable Mr Rogers to focus on MHM’s continued
technological development with Mr Thick bringing many years experience and a
successful track record to the Managing Director’s role.
Frank Rogers said, “Phil is a great asset for the company and his focus and
experience are crucial as the company ramps up in Geelong, builds its new
Kentucky plant and potential corporate changes with our silica assets.
“I remain completely committed and engaged with MHM with my focus devoted
to commecialising the company’s technologies. Since I founded this company in
2007 we have seen substantial success. Now is the right time to hand the reins
to Phil.”
Mr Thick has been given a mandate from the board to provide shareholders with a clear and concise roadmap
and timetable in the shorter term for delivering profitable operations in Geelong and to oversee finalisation of
financing for MHM’s US expansion.
Mr Thick will continue to strengthen relationships with key project stakeholders and government, and oversee
and administer heightened investor and public relations. Mr Thick plans to conduct an Australian investor
relations campaign during the coming month to outline the roadmap to maximising profitability.
Mr Thick said, “MHM is in a very exciting place, with the Geelong plant now operating well and agreement
reached with Alcoa on landfill processing, four US supply contracts and the aluminium oxide AL80 being
successfully exported to Asia.
“The two most important things for MHM to focus on and deliver are to get the Geelong plant operating
successfully on a 24 hour basis including stockpile processing, delivering the cash flow we expect, and to
finalise design, costing and financing arrangements for the Kentucky plant.
“I believe shareholders have lost some faith in our ability to deliver given some timelines and deadlines not
met. There are good reasons for this as we have been developing and improving the technology as we go,
but we have to hit our targets and I believe this new structure will make that happen. We are freeing up our
key people to focus fully on these key objectives over the coming months.”
Until recently Mr Thick was the CEO and director of WA-based chemical manufacturing and mining services
company Coogee Chemicals Pty Ltd, a company that employs 280 staff with operations throughout Australia
and south east Asia. Mr Thick has overseen a rapid period of growth in the business over the past four years.
Before this Mr Thick spent 20 years with Shell Australia performing sales and marketing roles before
branching into engineering and strategy positions including tenure as a senior executive of the board.
Mr Thick’s employment agreement with MHM involves the issue of 500,000 unlisted options, to provide
strong alignment with shareholders. The options will be issued pursuant to the existing Employee Share
Option Plan, with an agreed exercise price of $1 and an expiration date of 18 July 2017. The issue and terms
of these options remains subject to shareholder approval at the company Annual General Meeting in
November, or at any earlier meeting of shareholders.
The Board will be adding another independent Non-executive Director in the near future and continues to
engage with potential candidates.
