Mineral Resources: Chris Ellison back to work after damning report forces his exit as CEO
Mineral Resources boss Chris Ellison has been spotted in public for the first time since Monday’s bombshell announcement that he will leave the company he founded within the next 12 to 18 months.
The billionaire was seen driving into the company’s luxury Osborne Park offices just 24 hours after the lithium and iron ore miner published the findings of a damning review into his past conduct, which concluded he had “at times ... not acted with integrity”.
It was also found he “failed to be as forthcoming with the board as he should have been” after he dodged tax on co-owned offshore companies and allegedly profited on equipment sold to the listed mining and services group.
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By continuing you agree to our Terms and Privacy Policy.A number of emails related to the issue were deleted in 2019, MinRes said, and other problems involving Mr Ellison came to the board’s attention.
“The board has also concluded that Mr Ellison, on occasions, used company resources for his personal benefit,” MinRes said.
This included directing MinRes employees to work on his boat and properties, having a company worker manage his personal finances, and using MinRes to “procure goods and services for his private use”.
Mr Ellison’s business arrangement with his daughter Kristy-Lee Craker was also under the microscope. Ship owners transporting the ore MinRes exports from WA are encouraged to use a shipping agent owned by Ms Craker.
The scathing report also spelled the end of James McClements’ tenure as chair. He announced he would leave the company before next year’s annual general meeting.
