Chris Ellison Resigns from MinRes Board
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major shareholder EllisonReuters
•Mineral Resources founder Ellison to step down after tax evasion probe, penalties imposed
78% Informative
MinRes founder Chris Ellison will step down from the board and incur a combined A$18.4 million in financial penalties and lost remuneration.
MinRes shares slipped as much as 7% to A$ 37.76 by 1109 GMT , its worst session since Oct. 25 .
Decision marks the conclusion of an investigation over undeclared payments by Mineral Resources to companies linked to Ellison .
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