Li-Cycle Provides Business Update; Tim Johnston Will Transition To The Role Of Interim Non-Executive Board Chair; Expects To Reduce ~60 Positions, Representing 17% Of Its Global Workforce

Author: Benzinga Newsdesk | March 26, 2024 04:23pm

The company has made the strategic decision to transition from its regional management structure to a centralized model to better position the Company for future success and increase efficiencies. Tim Johnston, Executive Chair, will transition to the role of interim non-executive Board Chair.  It is expected that these changes will include identifying an independent Board Chair. Conor Spollen, who has been with Li-Cycle since January 2022, has assumed the role of Chief Operating Officer (COO). Li-Cycle expected to generate approximately $10 million in cost savings on an annualized basis through workforce reduction. Debbie Simpson, Chief Financial Officer, will be leaving the Company to pursue new opportunities. The Company is pleased to announce that Craig Cunningham has joined Li-Cycle as its interim Chief Financial Officer, effective immediately. 

Posted In: LICY