Element ASA: Cecilie Grue to step down as CEO

02.05.19 | Press releases

Oslo, Norway 30 April 2019 – Element ASA (ELEMENT, OSE:ELE) today announces that Chief Executive Officer Cecilie Grue has informed the board of directors that she will resign from the position as CEO effective 1 august 2019. The board will immediately initiate the search for her replacement. Grue will continue to work closely with the board until she steps down and will be available for the company in a transitional period. 

"Element has been through an extremely demanding period on several fronts with many legal and financial challenges. Through the ongoing strategy process we are moving towards a phase with focus on operational mining activities, restructuring and growth. In my view the time is right to for a more operational CEO to lead the company through the next chapter. I continue to be passionate about Element, the opportunities and our projects, and have signaled willingness for a continued contribution to the company going forward, " says Cecilie Grue, Chief Executive Officer of Element. 

Grue has informed the Board of Directors that she will step down as CEO effective 1 August 2019. The board will immediately initiate the search for a new Chief Executive Officer and Grue wil work closely Chairman Thomas Christensen in the transition period.

"Since appointed Chairman of Element in January 2019, I have enjoyed working closely with Cecilie in solving the various and challenging issues for the company. We appreciate her dedication and contributions to the company as we are now moving towards a new phase for Element. The board will continue to work closely with Cecilie and the Element team to review and update the company strategy in the months to come and we look forward to present the company's projects and outlook at the planned Capital Markets Day in June, " says Thomas Christensen, Chairman of Element.

For further information, please contact:

Cecilie Grue
Chief Executive Officer
E-mail: cg@elementasa.com

Thomas Christensen
Chairman
E-mail: tc@procorp.no

ABOUT ELEMENT | www.elementasa.com
Element is an innovative project investment company within the mineral sector, which continuously strives to create shareholder value at the lowest possible risk. The company has as strategy to identify undervalued projects, closing in on cash flow, where infrastructure and other basic work, if necessary, have in large, been completed. The company's special focus is linked to projects within new, and usually ground-breaking technology, within its niches.