CZR Appoints Milan Jerkovic as Acting CEO with Performance Rights Incentives

Leadership Transition Marks New Chapter for CZR Resources

CZR Resources Ltd (ASX:CZR) is entering a fresh phase with the departure of Managing Director Stefan Murphy, effective 7 May 2026. Murphy, who has been at the helm for over four and a half years, will remain temporarily to facilitate a smooth handover. His tenure notably included steering the Robe Mesa project to a lucrative $75 million sale to Rio Tinto, a deal that significantly bolstered CZR’s cash reserves.

Stepping into the leadership void, Milan Jerkovic has been appointed Acting CEO. Jerkovic brings deep expertise in mining and minerals economics, backed by a robust career spanning senior roles at Western Mining, BHP, and Cyprium Resources among others. His appointment comes with a Consultant’s Service Agreement featuring a $30,000 monthly fee and performance rights that vest upon CZR’s share price reaching specific milestones of $0.55 and $0.65 over a 15-day VWAP period. This structure aligns his incentives closely with shareholder returns.

Jerkovic’s arrival coincides with a period of active exploration and development for CZR, including ongoing work at the Croydon Gold Project, where recent assay results have confirmed expanding gold mineralisation. The company’s strong cash position, bolstered by the Robe Mesa sale, supports these ambitions, as seen in their recent $67 million cash backing and aggressive drilling campaigns targeting high-grade gold shoots at Croydon.

Board Strengthened with Financial and Corporate Governance Expertise

Alongside Jerkovic’s appointment, CZR has welcomed Alex Neuling as an Independent Non-Executive Director. Neuling’s credentials include fellowships with the Institute of Chartered Secretaries and the Institute of Chartered Accountants of England and Wales, and over two decades of experience in financial and corporate leadership roles across ASX-listed mining and energy companies. His addition is expected to reinforce governance and financial oversight as CZR navigates its next growth phase.

Chairman Russell Clark expressed gratitude for Murphy’s contributions, highlighting his strategic refocus that culminated in the Robe Mesa transaction. Clark also conveyed confidence that the combined expertise of Jerkovic and Neuling will underpin CZR’s ambitions moving forward.

Contract Terms Signal Focus on Performance and Flexibility

Jerkovic’s consultancy agreement is indefinite with a minimum six-month term, allowing either party to terminate with notice thereafter. The inclusion of performance rights tied to share price thresholds underscores a results-driven approach but also introduces some uncertainty around incentive realisation, particularly given the Board’s discretion over vesting in the event of early termination or Good Leaver status.

As CZR advances its exploration programs backed by a solid balance sheet, the market will watch how this leadership transition influences strategic execution and shareholder value creation.