The company's London-based independent non-executive chairman Kevin Tomlinson will step down from the board, with Melbourne-based independent non-executive director Darryl Clark taking over the executive chairman position.

"In light of this strategic focus on the Australian market and the desire to reduce the size of the board, I am handing the reins over to Darryl Clark… to redirect the efforts to the Southern Hemisphere," Tomlinson said.

After four years on the board, London-based non-executive director Marcus Engelbrecht will also not stand for re-election and Mongolia-based CEO and managing director Dr. Andrew Stewart will relocate to Australia.

All the changes will take place after the April 30 annual general meeting.