European Green Transition plc’s chief executive officer Aiden Lavelle has stepped down on mutal agreement with the board, and will leave the company at the end of this month.
STRATEGY
Mr Lavelle declined to seek re-election as a director at the forthcoming general meeting.
The company said that its strategy to move from mining assets to acquiring “revenue generating businesses in the green economy”, required different skills and expertise.
“On behalf of the board, I would like to thank Aiden Lavelle for his contribution over the last year and his commitment to the Olserum REE [rare earth element] project,” added newly appointed executive chairman Cathal Friel added:
Co-founder, largest shareholder and previously non-executive chairman, Mr Friel will lead European’s mergers and acquisitions strategy, targeting “distressed” revenue generating businesses.
He has also stepped down from his role as non-executive chairman of hVIVO plc as from 5 June 2025.
In its annual results, European posted a loss of £2,129,654 for 2024 compared with £707,338 for the previous year.