Atlantic Lithium is slashing executive salaries and simplifying its leadership structure in a bold move to reduce costs and accelerate the development of Ghana’s first lithium mine.
As part of the restructuring, Executive Chairman Neil Herbert will step down and transition to Non-Executive Chairman effective July 1, 2025. The company says the change will lower executive overhead while enhancing board oversight.
In parallel, CEO Keith Muller has voluntarily accepted a 10% pay cut, reducing his annual base salary to A$427,500 for the next 12 months.
“We are taking decisive steps to streamline leadership and cut costs, ensuring we’re well-positioned to deliver long-term value for Ghana and shareholders,” said Muller.
With over 20 years of experience in lithium operations, Muller will now take full charge of day-to-day management. The company says this consolidation will sharpen operational focus as it progresses toward construction and eventual production at the Ewoyaa Lithium Project.
“Transitioning to Non-Executive Chairman and consolidating management under Keith ensures stronger focus on delivery and cost control,” added Herbert.
Atlantic Lithium reaffirmed its commitment to developing Ghana’s first lithium-producing mine and continues to work with the Government of Ghana to secure favorable terms for both investors and local communities.