Two Global Lithium directors have agreed to quit ahead of a vote seeking to shake-up the board of the West Australian lithium explorer which has caught the eye of billionaires Chris Ellison and Gina Rinehart.

Global Lithium said on Tuesday that former Rio Tinto and Fortescue executive Greg Lilleyman and Hayley Lawrance would resign as non-executive directors as part of cost-cutting measures designed to ride out the lithium price rout.