Lindsay Reed, an Aviva director, commented: "On behalf of the Board I would like to thank Dr Loftus-Hills for his leadership and contributions over the last two and a half years.
"Dr Loftus-Hills has more than 40 years mining industry experience which proved to be very valuable for Aviva. He played an extremely important role on Aviva's Kenya project providing oversight on the exploration of the company's mineral licenses, work program and their eventual sale.
"We would like to wish him well in his future endeavours."
Loftus-Hills joined the Aviva Board as chairman on 17 November 2010. Ian Middlemas became chairman of Aviva when he was appointed as a director of Aviva on 16 July 2013.
Aviva also advised that Lindsay Reed's role of chief executive officer has become redundant, however Reed will remain a non-executive director of the company.
Aviva is well-funded after recently receiving A$3.5 million for the sale of the Mmamantswe Coal Project. The company also had over $19 million in cash at the end of March 2013.
The company has a strategy now to identify and develop resource opportunities in Australia, and overseas.
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