Veteran Deep Yellow executive director Gillian Swaby has resigned from the uranium developer's board, marking a significant leadership change following the recent departure of long-time chief executive John Borshoff. The resignation took effect immediately, with Ms Swaby continuing to serve the company in a consulting capacity until the end of February.
Two Decades of Service Comes to an End
Ms Swaby's departure concludes a remarkable twenty-year tenure with Deep Yellow, having initially joined the company as a non-executive director in 2005 before assuming the role of executive director in 2016. Her extensive involvement spanned critical periods of the company's development and growth within the uranium sector.
"I would like to thank Gill for her 20 years of service to Deep Yellow, during which time she has made a profound, positive impact on the company and helped to position Deep Yellow as a leading ASX-listed uranium stock," stated Deep Yellow non-executive chair Chris Salisbury in an official announcement.
Tumultuous Leadership Transition
The resignation follows a period of significant upheaval within Deep Yellow's executive leadership. On October 20 last year, the company announced the sudden exit of eighty-year-old chief executive John Borshoff, a move that triggered an immediate market reaction, wiping nearly twenty percent from the company's market value on that single day.
Mr Salisbury defended the controversial decision during a heated annual general meeting one month later, where major shareholders threatened to remove the board over their handling of the leadership change. "While it was not made lightly," Mr Salisbury explained, "the decision came to needing someone with the runway to see Deep Yellow's $720 million flagship Tumas project in Namibia into development."
New Leadership Takes the Helm
Former Rio Tinto uranium mining manager Chris Field was appointed in December to succeed Mr Borshoff as chief executive, formally commencing his role on Monday. This leadership transition represents a strategic shift for Deep Yellow as it advances its significant uranium projects, including the Tumas development in Namibia and the Mulga Rock project in Western Australia.
Industry Veterans with Shared History
Both departing executives share a substantial history within the uranium industry. Mr Borshoff, a respected industry veteran, founded Paladin Energy in 1993, with Ms Swaby serving as company secretary and executive director during that period. Their professional paths diverged when Ms Swaby joined Deep Yellow in 2005, followed by Mr Borshoff's move to the company a decade later in 2015.
The simultaneous departure of two key figures with such extensive industry experience and institutional knowledge represents a notable moment for Deep Yellow as it navigates this new chapter under fresh leadership while maintaining its position as a prominent player in the Australian uranium sector.
