The CEO of US lead-acid battery-recycling start-up Aqua Metals, Dr Stephen Clarke, is being replaced.
The Aqua Metals board said a search for a replacement is under way— but did not say whether Clarke, who is also president, chairman and a co-founder of the firm, will stay on in those roles or leave.
Vincent DiVito, an Aqua Metals independent director, said: “Steve is a very talented inventor and a true visionary. During his tenure as CEO, Aqua Metals has achieved several important development milestones. Our search for a new CEO is well under way, and we are committed to recruiting an outstanding CEO to lead the company as it transitions from a founder-led, development stage organisation to a more mature public company.”
Di Vito said the company is also looking for up to two new independent director candidates “to refresh the composition of the board”.
“This process is intended to ensure that the board has the best mix of skills, diversity, and industry and other experience to best design and oversee the implementation of the company’s operating strategy to maximise the value of the company and return on investment for its shareholders,” Di Vito said.
Aqua Metals’ announcement comes after months of difficulties for the firm, which last month said it had completed its first 24-hour run of continuous operations of lead production after resolving a “sticky lead” condition at its AquaRefining facility in Nevada.
Earlier this year, Aqua Metals said chief financial officer Mark Weinswig resigned, but would continue to assist the firm “during a transition period”.