Hamak Strategy restructures leadership with CEO return
Hamak Strategy has restructured its executive management and strengthened its board as it moves into what it describes as a new growth phase, appointing a new CEO, chief strategy officer and CFO, while adding specialist advisers to support its gold exploration and treasury strategy.
The company announced on February 4 that its incumbent CEO Karl Smithson had been reappointed CEO and executive director, resuming the role after previously steering the company through its initial public offering (IPO) in 2022.
Further, Hamak executive director Mike Murphy has been appointed as chief strategy officer, while CFO James Cable has taken on expanded responsibilities alongside his role as company secretary.
Hamak said Nicola Horlick would remain interim nonexecutive chairperson and Martin Lampshire would continue as nonexecutive director.
The company added that Steven Poulton has been appointed as gold strategy adviser and Tim Franks as treasury strategy adviser, with a permanent chairperson expected to be announced in the near future.
“Hamak continues to strengthen its board and management team as we advance our unique strategy of pursuing high-quality gold projects in West Africa, supported by a dual and balanced treasury policy of owning Bitcoin and physical gold.
“The restructuring of the team and the appointment of . . . Murphy as an executive director will lead to greater focus and efficiency with improved and more proactive shareholder interaction and communication.
“Separately, the appointments of [Poulton] and [Franks] to advise the board on our gold strategy and treasury policy respectively, further strengthens our leadership team. Working closely with management, they will help assess gold exploration, development and mining opportunities and drive innovative value creation from our balance sheet.
“Having founded Hamak and steered the company through its IPO in 2022, I . . . resume the role of CEO as we enter a new growth phase with a clear strategy in place,” Smithson said.
Murphy noted that his appointment formalised his involvement in shaping the company’s direction.
“[My] appointment builds naturally on the experience I have gained throughout my career, partnering with organisations to define direction, drive growth, and turn complex challenges into clear, actionable strategies.
“I am looking forward to working closely with the team to shape the firm’s long-term vision, strengthen its market position, and deliver lasting value,” he said.
Smithson is a qualified geologist with an MBA and a fellow of the Institute of Materials, Minerals & Mining, and has more than 30 years of resources experience in Africa, including about 20 years in West Africa.
He will be responsible for gold exploration and development activities and the day-to-day management of the company, working closely with Murphy on corporate strategy, as well as investor relations and public relations.
Murphy brings more than 35 years of experience in financial services, having worked at firms such as Citigroup, Robert Fleming, Barclays de Zoete Wedd and Lehman Brothers as a global equity trader.
He later founded and ran brokerages including Eden Financial and Novus Capital Markets, served as vice-chairperson of Varengold Bank’s supervisory board, and advised companies across multiple sectors. He is a cofounder of Hamak and founder of Ethtry.
Cable is a chartered accountant with experience in the junior resources sector and has served as Hamak’s corporate secretary since the company’s initial public offering. The company said his expanded role would include broader responsibility for financial management and reporting.
Poulton is an economic geologist with more than 25 years of experience in the mining sector, primarily focused on Africa. His background includes founding and leading listed and private companies and investment vehicles, most recently as executive chairperson and cofounder of Elemental Altus Royalties, now Nasdaq-listed as Elemental Royalties.
He is also the founder of Adit Capital and holds an MSc in mining geology from the Camborne School of Mines at the University of Exeter.
Franks has more than 25 years of experience in investment banking and more than six years in digital assets. His career includes roles across equities, fixed income, foreign exchange and derivatives at institutions such as Citigroup, HSBC and Bank of China, and he currently serves as CFO and COO at Altenburg Capital, which focuses on crypto lending and derivatives strategies.