JSE-listed ASP Isotopes has announced that, effective October 1, Paul Mann, the founder, chairperson and CEO of ASP Isotopes, will become executive chairperson of ASP Isotopes and will be taking a temporary leave of absence from his CEO duties for health reasons.

In consultation with Mann, and effective October 1, ASP Isotopes' board of directors appointed Robert Ainscow, the company's COO, to serve as interim CEO – principal executive officer – in addition to his current duties.

In the executive chairperson role, ASP Isotopes explains, Mann has responsibility, working with the interim CEO and the board for the overall leadership and strategic direction of the company, providing guidance and support to senior management of the company and the coordination of the activities of the board.

In the role of interim CEO,  Ainscow has the responsibility for managing the CEO's direct reports and communications with the company's industry partners, shareholders and other important stakeholders, among other CEO duties.

ASP explains that Mann underwent a planned orthopaedic surgery in the US on September 19.

While the procedure was successfully performed, the post-operative course was somewhat more complicated than initially anticipated.

Although the course and timing of the recovery are not yet certain, the company says Mann has been advised that his recovery could take several months, during which time he will be unable to travel.

“The company wishes Mr. Mann a full and speedy recovery,” it says in a Sens announcement.

Ainscow co-founded ASP Isotopes with Mann in 2021 and has worked alongside him for the past four years.

Ainscow has been the company's COO since its inception and serves as CEO of its operating subsidiaries, ASP Isotopes South Africa, ASP Isotopes Guernsey and ASP Isotopes ehf in Iceland. He also served as the company's interim CFO from October 2022 until July 2024.

"I am honoured to step in to cover Paul's CEO responsibilities while he focuses on his health,” says Ainscow.

At this crucial time of sample and commercial product deliveries, Ainscow says he will continue to manage the company’s three existing enrichment plants in South Africa and also cover, alongside Viktor Petkov, ASP’s chief commercial officer, those key customer and counterparty relationships for the company’s current isotope product range.

Additionally, Ainscow says he will continue to supervise the deal teams working on the completion of the series of transformative transactions the company has announced.

He notes that the company has recruited an experienced executive management team to support the day-to-day running of the company, accelerate progress on implementing its strategic goals, and tackle the multiple opportunities that lie ahead.

“We have developed a clear strategy and will remain focused on executing our well-defined priorities. My immediate focus is on continuity and keeping our corporate objectives on track.

“I wish Paul a speedy recovery,” says Ainscow.

Meanwhile, as part of the ASP’s preparation for the public listing of its subsidiary Quantum Leap Energy (QLE), effective October 1, Michael Cunniffe has been appointed as CFO of QLE – succeeding Heather Kiessling in this role, who remains CFO of ASP Isotopes.

ASP explains that Cunniffe is an experienced CFO, noting that immediately before joining QLE, Cunniffe was the MD UK for Danforth Advisors, a provider of outsourced corporate and clinical business functions for the life science industry.

Additionally, as part of the enhancement of its investor relations and communications, ASP says it will begin providing quarterly updates on corporate developments for investors.

The first of these online presentations and question and answer sessions will be held in November. Full access details will be released on the company’s website, nearer to the date.