Electra adds to board of directors

Electra Battery Materials Corp., a Toronto-based battery recycler and battery material refiner, has announced the appointment of David Stetson to its board of directors. The company says Stetson brings decades of leadership experience in the natural resources sector, including 14 years as a CEO.

According to Electra, during Stetson’s tenure as CEO of Alpha Metallurgical Resources, the company’s market capitalization increased from $50 million to more than $4 billion. He led the company through a complex restructuring, eliminated $800 million of debt and transitioned to chairman until his retirement in late 2024.

More recently, he served on the board of Mallinckrodt Pharmaceuticals and chaired the Compliance and Corporate Governance Committee and served on the Transaction Committee. Electra says he also helped Mallinckrodt reduce its debt and complete a merger with Endo Pharmaceuticals.

Stetson earned a bachelor’s degree from Murray State University, a juris doctorate from the Brandeis School of Law at the University of Louisville and a master’s in business administration from the University of Notre Dame.

“On behalf of the board, I am delighted to welcome David to Electra,” board Chair John Pollesel says. “His proven expertise in guiding companies through expansion and delivering sustainable, long-term value will be instrumental as we bolster our financial foundation and deepen Electra’s role in North America’s critical minerals supply chain.”

Electra CEO Trent Mells says Stetson’s appointment marks an important step forward for the company as it strengthens its balance sheet and sharpens its focus on core operations. “His track record of building strong, resilient companies, together with his industry leadership, strategic insight and ability to develop and mentor high-performing teams, will be a tremendous asset as we advance our strategy and position Electra for long-term growth.”

Stetson’s appointment follows Electra’s recent announcement of a recapitalization process with the holders of the company’s senior secured convertible notes, which it says is designed to strengthen its balance sheet and provide “a more stable financial foundation.” The process includes new financing arrangements to support operations and strategic initiatives and a significant reduction of the company’s debt profile.

“I am thrilled to joint Trent and the team at Electra at such a pivotal time for the company,” Stetson says. “Electra is uniquely positioned to advance North America’s critical mineral priorities by building secure, domestic supply chains that are essential to both the energy transition and national security. I look forward to working alongside my fellow directors and Electra’s leadership to build on the strong foundation already in place and create lasting value for all stakeholders.”