Michael Fitzsimonds, the founder and president of Sparks-based Golden Phoenix Minerals, stepped down from his executive position and also left the company's board last week.
The company is publicly held.
Fitzsimonds' duties have been assumed by a three-person committee outside directors David A.
Caldwell and Ronald L.
Parratt, who will be joined by Kenneth Ripley of Reno.
Ripley is a consultant in industrial applications and also develops commercial real estate.
Also resigning was Jeffrey Tissier, cochairman of the board.He works full time as the manager of financial and administrative services for Truckee Meadows Water Authority and said that job is placing greater demands on his time.
The company named a six-person advisory board to oversee work such as investor relations, long-term finance and mining initiatives.
Golden Phoenix Minerals is developing a molybdenum project in northern Humboldt County.
Executives said last week they hope to have that project, known as Ashdown, in production this year.
