Atlantic Lithium (ASX:A11) said Executive Chairman Neil Herbert will transition to the role of non-executive chairman, effective July 1, according to a Wednesday filing with the Australian bourse.

Chief Executive Keith Muller will now lead all operational and strategic activities, the filing said.

Herbert's remuneration will be reduced in line with the new role, while Muller's annual fixed remuneration will be reduced by 10% to AU$427,500 for the next year, the filing added.

The pay cut is part of the Atlantic Lithium's ongoing efforts to reduce costs and increase operational efficiency, the company said.