- Push-out Score determined
- After about a year in the position
- Praise and good wishes for Tausch
- Search for a successor
(exechange) — Houston, Texas, September 28, 2022 — Henri Tausch, chief executive of 5E, leaves. As announced by 5E Advanced Materials Inc. in a news release and in a regulatory filing published on Wednesday, September 28, 2022, Henri Tausch leaves his post as chief executive officer at the boron and lithium company, after about a year in the role, effective October 31, 2022.
5E stated: “The Board is engaged in a search and review of permanent Chief Executive Officer Candidates. In the interim, Mr. Anthony Hall will lead the Company effective November 1, 2022 until the appointment of a new CEO is confirmed.”
“Personal reasons”
Henri Tausch’s departure from the CEO post is explained as follows. 5E said: “Mr. Tausch has resigned for personal reasons.”
Precise information regarding Henri Tausch’s future plans was not immediately available.
“Resignation”
5E said: “On September 28, 2022, the Board of Directors (the “Board”) of 5E Advanced Materials, Inc. (“5E” or the “Company”) accepted the resignation of Henri Tausch as President and Chief Executive Officer and as a member of the Board, effective as of October 31, 2022.”
“Not related to any disagreements”
“Mr. Tausch’s decision to resign as Chief Executive Officer and from the Board was not related to any disagreements with the Company on any matter relating to its operations, policies or practices or any issues regarding financial disclosures, accounting or legal matters,” 5E said.
Share price decline since April 2022
The announcement follows a decline in 5E Advanced Materials Inc.’s share price of 23% since April 2022.
In the position of CEO since 2021
Henri Tausch became CEO of the Company in 2021.
His bio reads as follows:
- Chief Executive Officer and Director of 5E Advanced Materials, Inc. since September 2021
- Chief Executive Officer of Fort Cady (California) Corporation, a subsidiary of American Pacific Borates Limited, since August 2021
- Senior Vice President and Chief Operating Officer at Shawcor Ltd from July 2020 to December 2020
- Senior Vice President at Shawcor Ltd from November 2018 to July 2020 Group President at Shawcor Ltd from October 2014 to October 2018
- Director of Banded Iron Group Inc. from June 2019 to September 2021
- Director of Zedi Inc. from January 2018 to June 2019.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Henri Tausch’s move on a scale of 0 to 10.
exechange reached out to 5E and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 40.2022 ($).