Arianne Phosphate (TSXV:DAN,FWB:JE9N,OTCBB:DRRSF) reports that Brian Kenny will no longer serve as CEO of Arianne, and will stay on as a consultant in order to better advance the company towards its primary milestones including permitting and securing a strategic partner. The company reports that many of Mr. Kenny’s responsibilities will now fall to COO Jean-Sebastien David, while Pierre Fitzgibbon will become Executive Chairman of Arianne to support this expanded role.
As quoted in the press release:
As a result of Mr. Kenny’s primary focus, the belief was that the CEO title was no longer applicable and Mr. Kenny has thus chosen to resign the title. Mr. Kenny will be staying with the Company as a consultant. The other responsibilities that had fallen to him as CEO such as administrative, financial strategy, investor and community relations will be reallocated to others within the management team.
Many of these redistributed responsibilities will fall directly to Arianne’s current Chief Operating Officer Jean-Sebastien David. Already a senior member of the management team, Mr. David was involved in large part with many of the operations of the Company. By being based in Chicoutimi, Mr. David knows all of the staff, many of the local officials, government officials and members of the First Nations communities and, has interacted regularly with them over the last few years since his original appointment to the Company.
On Arianne’s second quarter financial results, COO Jean-Sebatien David said:
We are pleased with the success of our second quarter. Amongst other highlights, the success of our July financing demonstrates continued support from our leadership team and existing shareholders towards the development of our world-class Lac à Paul Project. It provides us with the necessary capital to continue timely project advancement, including activities essential to securing the environmental permit and further project optimization. Our continued commitment to defining Lac à Paul’s upside potential and strengthening the Project’s economics was evident in the second quarter of 2014.