Argo Blockchain PLC Announces Directorate Change
Argo Blockchain PLC announced a significant leadership change as CEO Peter Wall steps down to pursue other opportunities. Chief Operating Officer Seif El-Bakly has been appointed as the Interim CEO, while Wall will remain as an advisor for three months. The Board has also appointed Matthew Shaw as Chairman. Additionally, Sarah Gow has resigned from the Board due to health issues. The company is known for its focus on large-scale cryptocurrency mining, with operations primarily powered by renewable energy. Argo is a dual-listed company on the LSE and NASDAQ.
- Seif El-Bakly appointed as Interim CEO, providing continuity in leadership.
- Matthew Shaw appointed as Chairman, indicating a structured transition.
- Company continues operations with a strong foundation for potential growth.
- Peter Wall's departure may create uncertainty in strategic direction.
- Sarah Gow's resignation could impact board diversity and expertise.
LONDON, UK / ACCESSWIRE / February 9, 2023 / Argo Blockchain PLC, a global leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), announces that Peter Wall is stepping down from his positions as Chief Executive Officer and Interim Chairman to pursue other opportunities. Argo intends to engage an executive search firm to assist with the process of selecting a Chief Executive Officer and will update the market in due course. The Board has appointed Chief Operating Officer Seif El-Bakly, CFA, as Interim CEO, and Mr. Wall has agreed to remain as an advisor to Argo over the next three months to support the transition. Matthew Shaw has been appointed Chairman of the Board.
Matthew Shaw said, "Peter has created a strong foundation for Argo which is a confident organisation full of talented people, aligned behind a clear strategy and focused on delivering profitable growth and market share gains. On behalf of the Board and everyone at Argo, I would like to thank Peter for his many achievements and wish him every future success."
Peter Wall said, "It has been a great privilege to have led Argo Blockchain over the past three years. It has been quite a journey, and we have come a long way. I am pleased to have recently led the successful Galaxy deal, and I thank all my colleagues at Argo for their dedication, support, and enthusiasm in driving Argo forward. Onwards and upwards!"
Board Resignation
Argo also announces that Sarah Gow has resigned from her position as non-executive director on the Board due to health reasons. The Board thanks Mrs Gow for her valuable contributions to Argo since joining the board in July 2021 and wishes her all the best.
Sarah Gow said, "It has been a tremendous privilege to serve on the Board of Argo, and I wish the Company every success for the future."
About Argo
Argo Blockchain PLC is a dual-listed (LSE:ARB; NASDAQ:ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With mining facilities in Quebec, mining operations in Texas, and offices in the US, Canada, and the UK, Argo's global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. Argo also participates in several Web 3.0, DeFi and GameFi projects through its Argo Labs division, further contributing to its business operations, as well as the development of the cryptocurrency markets. For more information, visit www.argoblockchain.com.
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Contact:
Argo Blockchain |
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Investor Relations | |
finnCap Ltd |
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Corporate Finance Jonny Franklin-Adams Seamus Fricker Joint Corporate Broker Sunila de Silva | +44 207 220 0500 |
Tennyson Securities |
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Joint Corporate Broker Peter Krens | +44 207 186 9030 |
Tancredi Intelligent Communication UK & Europe Media Relations |
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Salamander Davoudi Emma Valgimigli Fabio Galloni-Roversi Monaco Nasser Al-Sayed |
SOURCE: Argo Blockchain PLC
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