Atlas irons out savings in executive team reshuffle
ATLAS Iron has moved its former chief Ken Brinsden to a non-executive role as it takes a knife to its cost base.
The Pilbara iron ore miner will shave another $1 million off its costs as it reduces the number of senior executives from five to three as part of a senior team reshuffle.
Mr Brinsden (pictured) has moved from being an executive director to a non- executive director, three months after stepping aside from the top job to make way for Atlas founder and chairman David Flanagan.
Atlas said the changes represented about $1 million in total annual savings. “They will also ensure that the company retains Mr Brinsden’s extensive operational skills and knowledge,” Atlas said. Mr Brinsden steered the c company as its managing director from 2 2012 to 2015.
Atlas shares c closed steady a at 2.6¢ yesterd day. They have lost more than 80 per c cent of their v value over the p past year.