Providence CEO Alan Linn stepping down

Providence Resources announced on Tuesday that its chief executive officer and director Alan Linn was stepping down from the board and all subsidiary companies immediately.

The AIM-traded firm said its board would immediately begin a search for a new CEO.

In the intervening period, chairman James Menton would assume the role of executive chairman, the company confirmed.

“I have decided to step down from the board to devote more time to my other business interests,” Alan Linn said.

“Following the recent strategic decision by the board to take the management and financing of the Barryroe project in-house, this is the opportune time to hand over to new leadership.

“Providence is now well-placed to progress the Barryroe project.”

At 1434 BST, shares in Providence Resources were down 7.25% at 3.2p.