Lithium Americas Corp (TSX:LAAC). (NYSE:LAC) has announced the appointment of Brandin Luke Colton as Executive Vice President and Chief Financial Officer, effective January 29, 2025.
The company, listed on both the New York and Toronto Stock Exchanges, made the disclosure in a recent SEC 8-K filing.
Colton, who brings over two decades of financial and leadership experience in the mining sector, will also serve as the company's principal accounting officer. His appointment follows the interim tenure of April Hashimoto, who will resume her role as Senior Vice President, Finance and Administration, starting January 28, 2025.
Previously, Colton held the position of CFO at Minova International and Turquoise Hill Resources (NYSE:TRQ), where he played a key role in the development of a major copper mine in Mongolia. His career began at Ernst & Young, and he holds a Masters of Accountancy from Brigham Young University.
As part of his employment agreement, Colton will receive an annual base salary of $400,000, with eligibility for annual short-term and long-term incentive compensation, each targeted at 75% of his base salary. In the event of termination without cause, disability, or for good reason, Colton is entitled to a severance package including 12 months of his base salary, a bonus equivalent to the prior year's STI Bonus, accelerated equity award vesting, and continuation of benefits.
Furthermore, in case of a change of control at the company within 12 months, followed by a termination without cause or resignation for good reason, Colton's severance period extends to 24 months, and all equity awards would vest immediately.
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