David Flanagan will transition to Executive Chairman at Battery Minerals as part of a board and management reshuffle at the struggling graphite play.

Battery has tapped Mr Flanagan’s former colleague, Atlas Iron’s long-serving chief operating officer Jeremy Sinclair, to take on the role of managing director.

Jeff Dowling will move from Chairman to Lead Independent Non-executive Director while Brett Smith will not seek re-election as a director at the company’s annual general meeting in May and Gilbert George will also step down from the board.

Mr Sinclair, who has worked at Atlas for the past 11 years and before that with Rio Tinto, will start in the new role on April 8 on a salary of $400,000.

Mr Flanagan’s salary will fall by 57 per cent to $200,000.

Battery said the changes, which would increase the company’s total board remuneration, reflected evolving corporate and operational demands as it sought to secure the remaining $US39.5 ($55.8) million required to complete its flagship Montepuez graphite project in Mozambique.

Shares in Battery slumped in June last year and have since struggled to recover after Resource Capital Funds pulled a $US30 ($42.4) million debt and equity funding agreement for Montepuez.

 

Image: David Flanagan, The West Australian.