5N Plus Announces Planned Organizational Change

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[{"type":"text","content":"\n \n \n \n 5N Plus Announces Planned Organizational Change\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n MONTREAL\n \n ,\n \n June 30, 2021\n \n /CNW Telbec/ - 5N Plus Inc. (\"5N Plus\" or the \"Company\") (TSX: VNP), a leading global producer of specialty semiconductors and performance materials, today announced the planned departure of\n \n Nicholas Audet\n \n , Executive Vice President of Electronic Materials, effective in Q3 2021, to pursue other interests unrelated to the Company and its scope of business. Mr. Audet joined 5N Plus in 2003 and ascended through organizational ranks, having assumed various roles with expanded scope of responsibility.\n \n \n \"I would like to extend my gratitude to Nicholas for his contributions and dedicated service to 5N Plus over the past two decades,\" said\n \n Arjang Roshan\n \n , President and Chief Executive Officer of 5N Plus. \"After senior management changes in 2016, our Company launched 5N21, a turn-around plan designed to substantially reduce earnings' volatility, expand margins and strengthen the Company's balance sheet. As a member of our Executive Committee, Nick's role has been instrumental in implementing and realizing the benefits of this plan.\"\n \n \n Earlier this year, 5N Plus unveiled its intent to transform the Company by substantially growing its businesses in specialty semiconductors and performance materials while harvesting legacy businesses and those with higher commodity exposure. As the market leader with approximately 45 percent share of the Company's Total Addressable Market (TAM), a key tenet of the strategy enables 5N Plus to considerably expand its TAM while continuing to focus on its core activities. The Company will rely on organic and M&A activities to achieve this objective and expects meaningful revenue expansion as it executes against its strategic roadmap.\n \n \n In\n \n March 2021\n \n , 5N Plus\n \n announced\n \n its intention to acquire AZUR SPACE Solar Power GmbH (\"AZUR\"). The acquisition, subject to customary closing conditions...

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