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Argo CEO Change

1. CEO Thomas Chippas resigns effective February 28, 2025. 2. Jim MacCallum appointed interim CEO during search for replacement. 3. Chippas improved Argo's balance sheet, repaid the Galaxy loan early. 4. Argo Blockchain is focused on renewable energy and cryptocurrency mining.

Leadership Change
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+0.93%S&P 500
$0.58601/21 02:16 AM EDTEvent Start
$0.5701/22 08:47 AM EDTLatest Updated
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FAQ

Why Neutral?

CEO changes often have mixed effects on stock stability. Past CEO changes at tech firms resulted in stock fluctuations.

How important is it?

Leadership transition is significant for strategic direction and investor confidence.

Why Short Term?

Interim leadership may cause uncertainty in the short run. Previous interim appointments often led to temporary price volatility.

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ARBBTCETH
LONDON, UK / ACCESS Newswire / January 21, 2025 / Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK) announces that Thomas Chippas is stepping down from his positions as Chief Executive Officer and Director effective 28 February 2025. Argo intends to engage an executive search firm to assist with the process of selecting a new Chief Executive Officer and will update the market in due course. In the interim, the Board has appointed Jim MacCallum, current Chief Financial Officer, as interim-Chief Executive Officer.Matthew Shaw, Chairman of the Board, said: "Thomas has made significant contributions to Argo including the repayment of the Galaxy loan ahead of schedule and improving the balance sheet. On behalf of the Board and everyone at Argo, I would like to thank Thomas for his many achievements and wish him every success in the future."This announcement contains inside information.For further information please contact:Argo BlockchainInvestor Relations[email protected]Tennyson SecuritiesCorporate BrokerPeter Krens+44 207 186 9030Fortified SecuritiesJoint BrokerGuy Wheatley, CFA+44 7493 989014[email protected]Tancredi Intelligent CommunicationUK & Europe Media Relations[email protected]About Argo:Argo Blockchain plc is a dual-listed (LSE:ARB)(NASDAQ:ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With a mining facility in Quebec and offices in the US, Canada, and the UK, Argo's global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. For more information, visit www.argoblockchain.com.This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.SOURCE: Argo Blockchain PLC

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