MIN ASX: MinRes board faces investor wrath for ousting Chris Ellison

The board of Mineral Resources faces a shareholder backlash after it said managing director Chris Ellison would step aside in 18 months following a review that found he had enriched himself at the company’s expense.

The billionaire MinRes founder’s exit will follow the departure of chairman James McClements, who vowed on Monday to step down in response to revelations about a British Virgin Islands tax scheme Mr Ellison and other senior figures at the company participated in.

Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at [email protected]

Mark Wembridge covers resource companies for The Australian Financial Review, based in Perth. He formerly worked for the Financial Times in London and Hong Kong. Connect with Mark on Twitter. Email Mark at [email protected]

Joanne Tran is a markets reporter for The Australian Financial Review in the Sydney newsroom. Connect with Joanne on Twitter. Email Joanne at [email protected]

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