Sherritt Appoints Richard Moat to its Board of Directors
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TORONTO — Sherritt International Corporation ('Sherritt' or the 'Corporation') (TSX:S) is pleased to announce the appointment of Richard Moat to its Board of Directors effective today. Mr. Moat joins the Board as part of the investor rights agreement with a shareholder holding more than 10% of the Corporation's outstanding common shares. He will succeed Steven Goldman who is not seeking re-election at the Corporation's upcoming 2025 shareholder meeting on June 10 th.
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'Richard's expertise leading multinational enterprises through business transformations make him an invaluable addition to our Board,' commented Sir Richard Lapthorne, Chair of Sherritt's Board of Directors. 'We look forward to benefiting from Richard's insights and strategic leadership, leveraging his wealth of experience leading corporations in executive and director positions.'
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Sir Richard Lapthorne, continued, 'In addition, I would like to extend my appreciation to Steven for his dedication and diligence in carrying out his role and wish him every success in his future endeavours.'
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Richard Moat has a strong track record successfully leading business transformations. Mr. Moat was the Chairman of the Board for Vantiva S.A., formerly Technicolor S.A from 2022 to 2024 and served as CEO of the latter company from 2019 to 2022. Prior to that, he was the CEO of Eir Limited ('Eir'), where he successfully led a turnaround that generated shareholder value in excess of €1 billion. Joining Eir as CFO in 2012, he took the helm as CEO in 2014 through 2018 and was a director from 2018 until 2021. Mr. Moat is a Fellow of the Association of Chartered Certified Accountants. He holds a Diploma in Corporate Finance and Accounting from London Business School and has a master's degree in Law from St Catharine's College, Cambridge.
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Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed critical for the energy transition. Sherritt's Moa Joint Venture has a current estimated mine life of approximately 25 years and is advancing an expansion program focused on increasing annual MSP production by approximately 20% of contained nickel and cobalt. The Corporation's Power division, through its ownership in Energas, is the largest independent energy producer in Cuba with installed electrical generating capacity of 506 MW, representing approximately 10% of the national electrical generating capacity in Cuba. The Energas facilities are comprised of two combined cycle plants that produce low-cost electricity from one of the lowest carbon emitting sources of power in Cuba. Sherritt's common shares are listed on the Toronto Stock Exchange under the symbol 'S'.
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