CANBERA (dpa-AFX) - At IGO Limited's (IGO.AX) Annual General Meeting, Chairman Michael Nossal shared an optimistic outlook for fiscal year 2026. He noted encouraging signs in the lithium market, with demand rising from the electricity storage sector, inventory destocking progressing, and current lithium prices offering limited incentive for new supply. Together, these factors are setting the stage for market rebalancing. While challenges remain, Nossal emphasized that significant opportunities also lie ahead.
Later this year, IGO will launch its second Innovate Reconciliation Action Plan (RAP) for the period 2025 to 2027. Building on the achievements of the inaugural RAP, this initiative reflects the company's commitment to fostering strong relationships with Traditional Owners and making meaningful contributions to the communities in which it operates.
As announced in June, the Board has initiated a measured renewal and succession process. This includes reducing the size of the Board, recruiting new independent Non-Executive Directors, and transitioning the role of Chair.
In line with this process, IGO announced the appointment of Chair-elect Dr Vanessa Guthrie AO. She will join the Board as a Non-Executive Director effective 1 December 2025 and will succeed Michael Nossal as Chair on 1 January 2026.
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