Argo CEO Change
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) has announced that CEO Thomas Chippas will step down from his positions as Chief Executive Officer and Director, effective February 28, 2025. The company plans to engage an executive search firm to select a new CEO and will provide market updates accordingly.
In the interim period, current Chief Financial Officer Jim MacCallum has been appointed as interim-CEO. Board Chairman Matthew Shaw acknowledged Chippas's significant contributions to Argo, particularly highlighting his role in the early repayment of the Galaxy loan and improvements to the company's balance sheet.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) ha annunciato che il CEO Thomas Chippas si dimetterà dalle sue cariche di Amministratore Delegato e Direttore, con effetto dal 28 febbraio 2025. L'azienda prevede di ingaggiare una società di ricerca di dirigenti per selezionare un nuovo CEO e fornirà aggiornamenti di mercato di conseguenza.
Nel periodo interinale, l'attuale Chief Financial Officer Jim MacCallum è stato nominato CEO ad interim. Il Presidente del Consiglio, Matthew Shaw, ha riconosciuto i significativi contributi di Chippas ad Argo, evidenziando in particolare il suo ruolo nel rimborso anticipato del prestito Galaxy e nei miglioramenti del bilancio dell'azienda.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) ha anunciado que el CEO Thomas Chippas renunciará a sus funciones como Director Ejecutivo y Director, con efecto a partir del 28 de febrero de 2025. La empresa planea contratar una firma de búsqueda de ejecutivos para seleccionar un nuevo CEO y proporcionará actualizaciones del mercado en consecuencia.
En el período interino, el actual Chief Financial Officer Jim MacCallum ha sido nombrado CEO interino. El Presidente de la Junta, Matthew Shaw, reconoció las importantes contribuciones de Chippas a Argo, destacando especialmente su papel en el reembolso anticipado del préstamo Galaxy y las mejoras en el balance de la empresa.
아르고 블록체인 (LSE:ARB)(NASDAQ:ARBK)는 CEO 토마스 치파스가 2025년 2월 28일 자로 CEO 및 이사직에서 물러나겠다고 발표했습니다. 회사는 새로운 CEO를 선정하기 위해 임원 검색 회사를 고용할 계획이며, 이에 따라 시장 업데이트를 제공할 것입니다.
임시 기간 동안 현재 최고 재무 책임자 짐 맥칼럼이 임시 CEO로 임명되었습니다. 이사회 의장인 매튜 쇼는 치파스가 아르고에 기여한 중요한 부분, 특히 갤럭시 대출의 조기 상환 및 회사의 재무 상태 개선에서의 역할을 강조하였습니다.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) a annoncé que le PDG Thomas Chippas démissionnera de ses fonctions de Directeur Général et de Directeur, à compter du 28 février 2025. L'entreprise prévoit de faire appel à une société de recherche exécutive pour sélectionner un nouveau PDG et fournira des mises à jour du marché en conséquence.
Dans l'intervalle, l'actuel Directeur Financier Jim MacCallum a été nommé PDG par intérim. Le Président du Conseil, Matthew Shaw, a reconnu les contributions significatives de Chippas à Argo, en mettant particulièrement en avant son rôle dans le remboursement anticipé du prêt Galaxy et les améliorations de la situation financière de l'entreprise.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) hat bekannt gegeben, dass CEO Thomas Chippas am 28. Februar 2025 von seinen Positionen als Geschäftsführer und Direktor zurücktreten wird. Das Unternehmen plant, eine Executive-Search-Firma zu beauftragen, um einen neuen CEO auszuwählen, und wird entsprechende Marktupdates bereitstellen.
In der Übergangszeit wurde der aktuelle Chief Financial Officer Jim MacCallum zum Interims-CEO ernannt. Der Vorstandsvorsitzende Matthew Shaw erkannte die bedeutenden Beiträge von Chippas zu Argo an, insbesondere hob er dessen Rolle bei der vorzeitigen Rückzahlung des Galaxy-Darlehens und den Verbesserungen der Bilanz des Unternehmens hervor.
- Early repayment of Galaxy loan achieved under departing CEO's leadership
- Improved balance sheet condition noted by Chairman
- Immediate interim CEO succession plan in place
- Unexpected CEO departure creates leadership uncertainty
- Search for permanent CEO replacement still pending
Insights
The departure of CEO Thomas Chippas marks a pivotal transition period for Argo Blockchain. Under his leadership, the company achieved notable financial milestones, particularly the early repayment of the Galaxy loan which strengthened the company's balance sheet. The appointment of CFO Jim MacCallum as interim CEO suggests a focus on financial stability and continuity during the transition.
For a small-cap crypto mining company with a market cap of just
While management changes often create short-term uncertainty, the orderly transition process and the retention of institutional knowledge through an internal interim appointment mitigates immediate operational risks. The focus will be on maintaining operational efficiency and capitalizing on the improved balance sheet position achieved under Chippas's tenure.
LONDON, UK / ACCESS Newswire / January 21, 2025 / Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK) announces that Thomas Chippas is stepping down from his positions as Chief Executive Officer and Director effective 28 February 2025. Argo intends to engage an executive search firm to assist with the process of selecting a new Chief Executive Officer and will update the market in due course. In the interim, the Board has appointed Jim MacCallum, current Chief Financial Officer, as interim-Chief Executive Officer.
Matthew Shaw, Chairman of the Board, said: "Thomas has made significant contributions to Argo including the repayment of the Galaxy loan ahead of schedule and improving the balance sheet. On behalf of the Board and everyone at Argo, I would like to thank Thomas for his many achievements and wish him every success in the future."
This announcement contains inside information.
For further information please contact:
Argo Blockchain |
|
Investor Relations | |
Tennyson Securities |
|
Corporate Broker Peter Krens | +44 207 186 9030 |
Fortified Securities |
|
Joint Broker Guy Wheatley, CFA | +44 7493 989014 |
Tancredi Intelligent Communication UK & Europe Media Relations |
About Argo:
Argo Blockchain plc is a dual-listed (LSE:ARB)(NASDAQ:ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With a mining facility in Quebec 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. For more information, visit www.argoblockchain.com.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Argo Blockchain PLC
View the original press release on ACCESS Newswire
FAQ
When will Thomas Chippas step down as CEO of Argo Blockchain (ARBK)?
Who will serve as interim CEO of Argo Blockchain (ARBK)?
What major achievements were credited to Thomas Chippas during his tenure at ARBK?
How is Argo Blockchain (ARBK) conducting its search for a new CEO?
