MinRes founder Ellison steps down as Delta Lithium chair
Chris Ellison, the billionaire founder of Mineral Resources who was found to have used company resources for personal benefits and evaded taxes, has resigned as the chairman of the Delta Lithium, the lithium miner said on Monday.
Delta said Nader El Sayed, a non-executive company director, will be appointed as non-executive chairman.
Earlier this month, an internal probe by Mineral Resources (MinRes) into Ellison found that he used the diversified miner’s resources for his personal benefit, weeks after the billionaire admitted to tax evasion.
Ellison is to exit MinRes within 18 months but his exit from Delta Lithium is with immediate effect.
“I have taken the decision to step down as Delta chair to ensure that all of my focus and attention is on Mineral Resources,” Ellison said in a statement.
Ellison has served as the chairman of Delta Lithium since September last year.