Aim-listed Kropz’s Mark Summers has decided to stand down as CEO and executive director of the company at the end of the year and the board has started a process to recruit a new CEO.
Summers will continue to work with the Kropz team and his successor, once appointed, to ensure an orderly handover and that the day-to-day activities of the business continue.
Kropz, which is majority owned by African Rainbow Capital, has two African rock phosphate projects – Elandsfontein, on South Africa’s west coast, which is nearing production, and Hinda in Congo-Brazzaville, which is at feasibility study stage.
“Both I and the board have been extremely grateful to Mark for his excellent service to the company over the past several years,” Kropz nonexecutive chairperson Lord Robin William Renwick says.
“We have achieved a great deal since I joined in 2015. With Elandsfontein now moving into the operational phase, and the way forward at Hinda well-defined, I have decided that the time is right to hand over the reins at Kropz and seek new opportunities.
“I would like to thank our shareholders for all their support, as well as all the team at Kropz for their incredible hard work and commitment. I wish them every success in the future,” Summers says.