London-listed metals explorer Kavango Resources PLC has announced the sudden resignation of its Chief Executive Officer, Ben Turney, who has also stepped down from the company’s board with immediate effect.
In a statement released on Wednesday, the company confirmed that Executive Chair Peter Bee will assume the role of interim CEO while the search for a permanent replacement is underway.
The board also announced temporary leadership adjustments to ensure operational stability. Non-Executive Director Donald McAlister will serve as interim Chief Financial Officer, while Gautam Dala takes over as Chair of the Audit Committee.
Chair Bee expressed gratitude to the outgoing CEO for his service and confidence in the team’s ability to steer the company forward.
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“I thank Ben for his contribution, and wish him all the best for the future,” Bee said. “Donald, Hillary Gumbo, a fellow director of Kavango, and I worked together in Reunion Mining PLC, which developed mines in Zimbabwe and Zambia and negotiated the sale of the company to Anglo American PLC in 1999.
"We have a strong team with the expertise and knowledge to help realise the full potential of our assets for the benefit of all stakeholders.”
Kavango Resources, which focuses on metal exploration and gold production across southern Africa, particularly in Botswana and South Africa, has seen a dip in market confidence following the announcement. The company’s share price fell 15% on Wednesday afternoon in London, trading at 0.85 pence.
Over the past 12 months, Kavango’s stock has dropped by 11%, reflecting broader challenges in the mining and exploration sector.
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