LONDON – London-based graphite producer, Tirupati Graphite plc, has announced the immediate termination of its CEO, Shishir Poddar. The company said the suspension is still under investigation, but did not disclose the nature of the investigation or any specific reasons for the decision.
Tirupati Graphite is known for its focus on the production of graphite, an important mineral for various green applications such as renewable energy, e-mobility, energy storage, and heat management. The company operates two key projects in Madagascar, Sahamamy and Vatomina, with a maximum nameplate capacity of 30,000 tonnes per annum (tpa). Additionally, Tirupati has advanced stage projects in Mozambique, the Montepuez project with a permitted production capacity of 100,000 tpa and the Balama Central project ready for development with a permitted capacity of 58,000 tpa.
The establishment of Poddar comes at a time when the company’s Madagascar operations have been producing high quality flake graphite with a purity of up to 97%, catering to a global customer base. The company did not provide further details about the suspension or the expected impact on its operations.
Tirupati’s commitment to sustainable practices in the graphite industry has been an integral part of its corporate identity. The company has emphasized its role in supporting a carbon-free economy and energy transition through its graphite production.
The issues of their suspension are made public according to the requirements under Market Abuse Regulations (EU) No. 596/2014, and are now considered public. The information in this article is based on a press release from Tirupati Graphite plc. The company has not announced any further details or changes to its executive leadership following the layoff.
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