Country for PR: United States
Contributor: PR Newswire New York
Tuesday, April 17 2018 - 13:02
AsiaNet
Succession Planning for Orocobre Limited Managing Director/CEO
BRISBANE, Australia, April 17, 2018 /PRNewswire-AsiaNet/ --

The Board of Orocobre Limited (ORE:ASX ORL:TSX) (Orocobre or the Company)  
advises that Richard Seville has informed the Board of his intention to step 
down from the role of Managing Director and Chief Executive Officer (CEO) of 
Orocobre.  After 11 years in this role, Richard has informed the Board now to 
ensure adequate time to recruit and transition to a new CEO as Orocobre embarks 
on  the Phase 2 expansion of its Olaroz lithium project in Argentina and 
development of the planned Lithium Hydroxide Plant. Richard's exact departure 
date from his current role will depend on the timing of the recruitment 
process, however it is expected to be approximately 12 months. 

Logo - https://mma.prnewswire.com/media/482156/Orocobre_Limited_Logo.jpg 

Richard will remain on the Board of Orocobre retaining a direct role in key 
stakeholder relationships, in particular Toyota Tsusho Corporation, to ensure 
the transition is effective as possible with the new Chief Executive Officer.
 
Chairman of Orocobre, Robert Hubbard said, "Richard has led the Orocobre team 
for over a decade with great distinction. He should be justifiably proud of the 
many achievements during that time.  Under his leadership, Orocobre has emerged 
as a significant contributor to global lithium production.  Richard, amongst 
his many other achievements, has been responsible for the successful 
exploration campaign at Olaroz, establishment of the Orocobre/Toyota Tsusho 
Corporation joint venture, development of the first brine based lithium 
production facility in 20 years, and the funding of the Phase 2 expansion of 
Olaroz and lithium hydroxide plant. All of these have been underpinned by his 
leadership of the committed and capable Orocobre team.

"Richard has generated tremendous shareholder value but equally importantly, he 
has established a culture at Orocobre that is based on sustainability and 
shared value with all our stakeholders."

Richard Seville commented, "The timing of this decision was always going to be 
difficult, however after 11 years leading the Company it is now time to hand 
over to a new Chief Executive who can lead Orocobre through the next exciting 
phase of growth and development. 

"Orocobre has a world class resource in Olaroz, well developed strategies for 
expansion, and the management and joint venture partners necessary for its 
continued success.  Orocobre will have the time and support from me to ensure 
that the transition to new leadership is seamless.  I look forward to 
supporting the new CEO and seeing our collective investment in this company 
continue to grow."

The Orocobre Board will now commence a global search for Richard's 
replacement.  The Board believes this is an exciting opportunity for a future 
CEO and has appointed Egon Zehnder to assist in this process. 

For more information please contact:

Andrew Barber                                                                 
Investor Relations Manager
T: +61 7 3871 3985 
M: +61 418 783 701                          
E: abarber@orocobre.com

About Orocobre Limited 
Orocobre Limited (Orocobre) is a dynamic global lithium carbonate supplier and 
an established producer of boron. Orocobre is dual listed on the Australia and 
Toronto Stock Exchanges (ASX: ORE, TSX: ORL). Orocobre's operations include its 
Olaroz Lithium Facility in Northern Argentina, Borax Argentina, an established 
Argentine boron minerals and refined chemicals producer and a 29% interest in 
Advantage Lithium.

For further information, please visit http://www.orocobre.com



SOURCE: Orocobre Limited