Li-Cycle Holdings Corp. provided a business update regarding its organizational structure. As part of its previously disclosed ongoing comprehensive review and Cash Preservation Plan, which includes organizational right-sizing and right-shaping, the company has made the strategic decision to transition from its regional management structure to a centralized model to better position the company for future success and increase efficiencies.

With the changes to the centralized and reduced size of the organization, Debbie Simpson, chief financial officer, will be leaving the company to pursue new opportunities. Since joining the company in December 2021, Ms. Simpson has made a significant contribution to Li-Cycle through her executive leadership in financial management and strategic initiatives. She has helped lead the strategic funding roadmap for the Company and built a finance function to support the company?s focus on fiscal responsibility and strong governance.

Ms. Simpson will continue to support the team until May 31, 2024, to ensure a smooth transition. The company announced that Craig Cunningham has joined Li-Cycle as its interim Chief Financial Officer, effective immediately. Mr. Cunningham has an extensive background in executive level leadership and brings more than 17 years of accounting, finance, operational, and capital markets experience.

Most recently, he was Chief Financial Officer at Electra Battery Materials and prior to that served as Vice President and Regional Financial Officer at Kinross Gold.