Elvis has left the building

THE BOURSE WHISPERER: The regular game of musical chairs continues within the boardrooms across the resources industry.

Anglogold Ashanti appoints new CEO

AngloGold Ashanti (ASX: AGG) has appointed Srinivasan Venkatakrishnan (Venkat) as chief executive officer effective immediately.

Venkat has been with AngloGold Ashanti for nine years.

He was chief financial officer at Ashanti Goldfields until the merger with AngloGold in 2004, shortly after which he became CFO of the combined entity and joined the Board in 2005.

Since the departure of the company’s former CEO at the beginning of April 2013, Venkat has been joint interim CEO, alongside Tony O’Neill.

O’Neill will remain an executive director on the board and revert to his role as executive vice president: Business and Technical Development.

Venkat will also remain CFO of AngloGold Ashanti until further notice. A global search for a new CFO has been initiated.

Appointment of Chief Executive Officer

Zeus Resources (ASX: ZEU) has appointed Peter Williamson as chief executive officer effective immediately.

Dr Mike Etheridge has resigned as interim CEO also effective immediately, but remains as deputy chairman.


Resignation of Non-Executive Chairman and appointment of new

Minemakers Limited (ASX: MAK) announced Andrew Drummond has resigned as non-executive chairman and director of the company with effect from 7 May, 2013.

Richard H (Dick) Block has been appointed in his stead.

Block has been a non-executive director of Minemakers since March 2012.


Resignation of managing director

Bassari Resources (ASX: BSR) managing director Jozsef Patarica has given notice pursuant to his Executive Service Agreement providing three months’ notice of his resignation.

Patarica has held positions as a founding non-executive director and from early 2010 as chief executive officer and MD of the company.

“Jozsef has been a pleasure to work with and his dedication and work ethic is much admired by all,” Bassari Resources chairman Alex Mackenzie said.
    

Appointment of new Director

Gladiator Resources (ASX: GLA) has advised that, subsequent to the resignation of Tim Adams, Juan Martin Jorge has been appointed as a director of the company.

Jorge is a Uruguayan lawyer and notary and is a member of the Lawyers College and Notaries Association in Uruguay.

He has more than 15 years’ experience in corporate law, specialising in contracts, having previously worked with Guyer and Regules and PricewaterhouseCoopers prior to heading the legal department of the Union Group International Holdings Limited in 2008.


Board of Directors Update

Guildford Coal (ASX: GUF) informed the market of the resignation of Craig Ransley as a non-executive director.

With Guildford making the transition from explorer to producer/seller and with a new team in place to manage the changed emphasis of the company, Ransley decided his energies are best directed at other activities and enterprises.

Following Ransley’s resignation the company appointed Kon Tsiakis, a commercial litigation partner with HWL Ebsworth as a non-executive director.

Tsiakis has wide experience advising directors and companies on regulatory compliance and statutory corporate obligations as a commercial litigator.

He also spent a number of years as a senior enforcement analyst with the Australian Securities and Investments Commission.

Ransley’s resignation and Tsiakis’s appointment are effective immediately.


Board restructure

International Goldfields (ASX: IGS) has reshuffeled the cahairs around its Boardroom table as the company refocusses its activities, following the recent divestment of its West African assets.

Non-executive chairman Tony Sage and non-executive director Bernard Aylward have advised their intentions to resign from the board with immediate effect.

Sage was a founding board member of the company and played a big part in its development.

Current non-executive director Mark Gwynne has agreed to temporarily fill the position of non-executive chairman, until a permanent appointment can be announced.

IGS also announced the appointment of David Tasker as a non-executive director.

Along with Tasker’s appointment the company also announced that current chief executive officer Travis Schwertfeger, has been appointed managing director.

Mr Schwertfeger has been with IGS since 2010, and was appointed CEO of IGS in January 2012.


Director Retirement

Mining service company Allmine Group (ASX: AZG) announced that Andrew Howard has retired as non-executive director.

Howard has been a director of the company since July 2010 and has retired due to an increasing number of other commitments.


Board Changes

Celsius Coal (ASX: CLA) announced changes to its Board and management structure, and a key new appointment to its senior management team.

Transition of managing director, Grant Thomas to consulting role:

Managing director Grant Thomas informed Celsius of his resignation as an executive director of Celsius to pursue other interests but has agreed to remain a consultant to the company.

Alistair Muir promoted to Technical and Operations Director and joins the board:

Alistair Muir, previously Celsius’ country manager in Kyrgyz Republic, has been promoted to the position of Technical and Operations director.

Matthew O’Kane appointed Chief Financial Officer:

The company has appointed Matthew O’Kane as chief financial officer.

Nazariy Terlyga promoted to the position of General Manager, Kyrgyz Operations:

Executive director of Celsius’ Kyrgyz subsidiary, Asia Pacific Resources, Nazariy Terlyga has been promoted to the broader role of general manager, Kyrgyz Operations.

He will also continue his responsibilities for Asia Pacific Resources.