Sirius CFO leaves as board quits Sydney for York focus

by Kevin Reed

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06 Aug 2014

  • Financial Director
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York from the air courtesy of DACP

A RELOCATION of management will see the CFO of Sirius Minerals leave the business.

The minerals specialist is shutting its Sydney office as it focuses on a major project to excavate potash from York. As a result, current CFO Jason Murray will not relocate to the UK for personal reasons and will resign from his post during August. A search to replace him is underway.

The existing finance team, based in Scarborough, will continue to function as normal, led by York Potash CFO Jackie Flynn. The group role will be covered by Flynn on an interim basis.

Sirius' acquisition of York Potash two years ago has seen management move across to the UK over the last two years.

"The board would like to record its appreciation to Jason for his contribution to the progress of the Company and wishes him every success in the future," they said in a statement to the London Stock Exchange.

"During Jason's tenure the company has built a fully-fledged finance function, upgraded internal controls and has successfully completed two fundraisings enabling it to get closer to construction commencement of the company's flagship York Potash Project."

Russell Scrimshaw, chairman, said it "no longer makes sense" for the business to incur costs associated with other offices.

With the business looking to place more financing into the York Potash project, it has recruited Thomas Staley as corporate development director.

Scrimshaw added: "As we continue to plan the development of the company this restructure and new appointment pave the way for further success. We thank Jason for his efforts and welcome Thomas to the team."

Sirius was trading 0.50p down in this morning's trading, at 10.75p.

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