MinRes founder Ellison steps down as Delta Lithium chair

Delta Lithium

25/11/2024 08:26

Nov 25 (Reuters) - Chris Ellison, the billionaire
founder of Mineral Resources  MIN.AX  who was found to have used
company resources for personal benefits and evaded taxes, has
resigned as the chairman of the Delta Lithium  DLI.AX , the
lithium miner said on Monday.
    Delta said Nader El Sayed, a non-executive company director,
will be appointed as non-executive chairman.
    Earlier this month, an internal probe by Mineral Resources
(MinRes) into Ellison found that he used the diversified miner's
resources for his personal benefit, weeks after the billionaire
admitted to tax evasion.
    Ellison is to exit MinRes within 18 months but his exit from
Delta Lithium is with immediate effect.
    "I have taken the decision to step down as Delta Chair to
ensure that all of my focus and attention is on Mineral
Resources," Ellison said in a statement.
    Ellison has served as the chairman of Delta Lithium since
September last year.

 (Reporting by John Biju in Bengaluru; Editing by Savio D'Souza)
 ((John.Biju@thomsonreuters.com;))