Medusa Mining appoints Managing Director and Chairman

Medusa Mining Limited announces the appointment of Andrew Teo as Managing Director and Jeffery McGlinn as Non-Executive Chairman, effective 19 March 2021.

Mr Teo has been the Chairman of Medusa since November 2013 and a Board member since February 2010. Mr Teo has served as the Interim CEO since June 2020 after the resignation of Medusa’s previous CEO in mid-2020.

Following the resignation of the former CEO, Medusa undertook a search to identify a suitable, high quality replacement lead executive. International travel restrictions caused by the COVID-19 pandemic made this process more challenging and, after eight months in the interim CEO role, the Board believes Mr Teo is the best suited candidate for the position of Managing Director.

Mr Teo has developed a deep understanding of the business over the past decade and has strong local relationships within the Co-O workforce, the surrounding community and Philippine regulators, which together make him ideally suited for the role.

He is an accountant with 40 years' of experience in accounting, treasury, corporate, legal and business administration across several industries, including the mining industry. Mr Teo was an executive of BGC (Australia) Pty Ltd (“BGC”) for more than 35 years and was Chief Financial Officer/Executive Director of BGC until his retirement in March 2018.  BGC is one of Australia’s largest privately owned companies with annual turnover in excess of A$1 billion. Mr Teo remains a Non-Executive Director of BGC.

Mr McGlinn was appointed as a Non-Executive Director of Medusa in February 2021 and will now take the role of Non-Executive Chairman, following Mr Teo's appointment as Managing Director.

Mr McGlinn, a highly credentialed Australian businessman with extensive international experience, was appointed to the Medusa Board in February 2021 and the Board is strongly supportive of his move into the position of Non-Executive Chairman. Mr McGlinn was a founder of ASX-listed mining services company NRW Holdings Limited (ASX:NWH) and has been involved in the establishment of a diverse array of successful international businesses including in the industries of construction, industrial lighting and horse breeding (refer to ASX announcement 16 February 2021).

Commenting on Mr McGlinn’s appointment as Non Executive Chairman, outgoing Chairman and newly appointed Managing Director Mr Teo said “Jeffery will be an excellent contributor in the role of Chairman and I look forward to working with him”.

Following the Board restructure, Mr McGlinn will serve as Non-Executive Chairman alongside Non-Executive Directors Roy Daniel and Simon Mottram. Mr Teo remains on the Board as Managing Director.

Source: Medusa Mining Limited

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