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Lithium Power appoints CEO and MD

Metal News - Published on Wed, 17 Oct 2018

Image Source: ASX
Lithium Power International Limited announced the appointment of a new CEO and Managing Director, Cristobal Garcia-Huidobro. The appointment of this highly qualified Managing Director, together with the appointment of Martin Borda as Non-Executive Director (announced on 30 August 2018) adds considerable breadth of experience to the Board as LPI moves into the critical development phase of the Maricunga Project, which is regarded as one of the highest quality pre-production lithium brine projects in the world.

Highlights

- Mr Cristobal Garcia-Huidobro, currently a Non-Executive Director, has been appointed Chief Executive Officer and Managing Director of Lithium Power International.

- Mr Garcia-Huidobro is a highly respected member of the Chilean business community and will also retain his role as CEO of the joint venture company, Minera Salar Blanco SA.

- This appointment consolidates the already seamless connection between LPI and MSB.

Consistent with other Director appointments, Mr Garcia-Huidobro and Mr Borda will each be granted 2,000,000 unlisted options with an exercise price of $0.60 and a term of three years. The grant of options is subject to approval at the Company's Annual General Meeting to be held on 28 November 2018.

- Mr Cristobal Garcia-Huidobro - Chief Executive Officer and Managing Director

Mr Garcia-Huidobro was appointed a Non-Executive Director of LPI on 3 September 2018 and is now being appointed as CEO and Managing Director. He will also continue as the CEO and Director of LPI's joint venture company, Minera Salar Blanco S.A. ("MSB") thus ensuring excellent synergies between the two entities.

Mr Garcia-Huidobro has an unrivalled reputation and a very strong commercial network in Chile, along with a deep understanding of the operational and political background and requirements of the Maricunga Project.

His appointment has been approved by LPI's joint venture partners in MSB, as required under the joint venture Shareholders Agreement and was further cleared of any potential conflicts of interest under Chilean law and/or regulations.

Mr Garcia-Huidobro was instrumental in the finalisation of the joint venture shareholder and investment agreements for the Maricunga Project. He leads MSB's exploration and development program of the Maricunga Project.

Mr Garcia-Huidobro is a qualified civil engineer and holds an M&A certificate from Chicago University, with 18 years' experience in the development and financing of mining, energy, infrastructure, finance and property projects. He was formerly the CIO of Centinela, an investment company with a global portfolio of investments. He has been involved in the development of a wide range of projects mainly related to hydroelectric and wind power generation, oil and gas exploration and production, real estate developments and mining. He also served as a board and committee member on several mining, property and agricultural funds in North and South America.

Mr Garcia-Huidobro's appointment as CEO and Managing Director takes effect on 16 October 2018.

Source :

Posted By : Rabi Wangkhem on Wed, 17 Oct 2018
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