PLS appoints Willcocks as CFO
PLS boss Dale Henderson said the appointment of Alex Willcocks as the company’s new chief financial officer comes at an ideal time.
The Pilgangoora operator announced on Monday that Ms Willcocks’ appointment will be effective from May 25 next year, with Flavio Garofolo remaining as interim CFO until then.
Mr. Henderson said Ms. Willcocks, who most recently served as CFO at Wesfarmers Chemicals, Energy & Fertilizers, would assist in its drive to become a long-term, global, lithium-focused business.
“Alex joins us at an important time as we continue our evolution into a global, multi-asset and increasingly integrated lithium business with operating, development and partnership interests in Australia, Brazil and South Korea,” Mr. Henderson said.
“His experience leading complex organizations, delivering major growth programs and supporting a mature balance sheet will be instrumental in helping us continue to build a leading lithium business over the long term and move into the next phase of PLS’s development.”
Alongside her tenure as WesCEF CFO, Ms Willcock, who has over 10 years’ experience in advanced financial management roles, has also held a number of other positions within Wesfarmers Group.
This included the general manager of investor relations and planning, the executive managing director of the group’s accounting and assurance portfolio and the CFO of major chain Kmart.
Ms Willcocks also has some background in lithium through her involvement in Covalent Lithium, a joint venture between WesCEF and Chile-based SQM.
In FY25, PLS reported a net loss after tax of $88 million compared to a net profit of $347 million in the previous relevant period; it also reported a statutory net loss of $196 million from a statutory net profit of $257 million.
This was the company’s first full-year loss since 2021 and was driven by below-desirable lithium prices; This resulted in revenue falling 39 percent to $769 million in FY25.
In the September quarter, PLS produced 224,800 tonnes of spodumene concentrate as well as generating revenues of $251 million.
Both were welcomed by the company, which also mentioned that market conditions and supply chain uncertainty have the potential to impact its downstream operating targets in South Korea.
Last week PLS avoided taking first notice over the wages report despite a 16 per cent vote against it.
PLS closed trading on Monday, down 3 percent to $3.92.
