Boss Energy Ltd (ASX: BOE) shares are falling on Wednesday.
In morning trade, the ASX 200 uranium stock is down 3.5% to $1.99.
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What's going on with this ASX 200 uranium stock?
Investors have been selling the uranium producer's shares today despite it releasing an announcement relating to its leadership.
That announcement reveals that Boss Energy has completed its leadership change after CEO, Duncan Craib, stepped down from the role on 30 September. He announced plans to step down earlier this year after 9 years leading the company.
According to the release, Matthew Dusci has officially been appointed as Craib's replacement and will commence in the role as managing director and CEO from today, as planned. Mr Dusci has been the company's chief operating officer for the past 12 months.
Commenting on the appointment, the ASX 200 uranium stock's chair, Wyatt Buck, said:
The Board is pleased to confirm that Matt Dusci has commenced as MD & CEO of Boss, succeeding Duncan Craib as planned. Matt has extensive experience as a project operator and resources executive, making him well-qualified to lead Boss. He has done an excellent job over the past year and has a thorough understanding of Boss, our projects and the global uranium market.
I would like to again thank Duncan Craib for his leadership of Boss over the past nine years. We look forward to Duncan's continual guidance as a Non-Executive Director of Boss, commencing in January, 2025.
The company's new CEO appears up for leading it through its next stage of growth. Dusci said:
It will be a great privilege to lead Boss. My immediate focus is on delivering the operational review previously announced, along with safely achieving our FY26 production guidance from the Honeymoon operation of 1.6M lbs.
Creating value for shareholders in the years ahead is a priority as we seek to capitalise on the opportunities Boss has within its global asset portfolio. I would also like to express my gratitude to Duncan, with whom I have been working closely over the past year, and wish him all the best for the future.
But that won't be the end of Duncan Craib's association with the ASX 200 uranium stock. The release notes that he will continue to support the company on a limited basis under a consultancy agreement on market terms through to 1 January 2026. After which, Craib will join the Boss Energy board as a non-executive director.
