Novonix (NASDAQ:NVX) -6.2% pre-market Tuesday after saying CEO and co-founder Chris Burns will step down effective January 24, with current CFO Robert Long serving as interim CEO until a replacement is appointed.

Australian-based Novonix Limited (ASX:NVX), a company specializing in miscellaneous electrical machinery, equipment, and supplies with a market capitalization of $240 million, announced a significant change in its leadership structure.

NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or the “Company”), a leading battery materials and technology company, today announced the planned transition in the Chief Executive Officer (“CEO”) role,