Mindax will reduce its board membership from six down to four as a part of a company restructuring effort designed to minimize costs. Founding chairman Gilbert George will retire effective from May 31, with the board appointing current director Benjamin Chow AO as chairman upon Mr. George's leaving. Managing director and chief executive Dr. Steve Ward has agreed to step down and leave the company at the same time.

The other existing directors will continue as board members, however most Perth-based staff including current chief financial officer Chris Pougnault will also leave the company. The planned changes have the full support of Mindax's shareholders.