THE BOURSE WHISPERER: The regular game of musical chairs continues within the boardrooms across the resources industry.
Appointment / Resignation of managing director
Northern Iron (ASX: NFE) managing director John Sanderson has decided to resign effective from 8 July 2013 after close to five years with the company and its operations in Northern Norway.
Sanderson has been with NFE from December 2008 and has been the managing director since February 2010.
Sanderson will continue as a consultant to the company for a period expected to last until the end of 2013, during which time he will continue to represent the company for sales and marketing activities in addition to being available to assist the management team of Sydvaranger Gruve and newly appointed managing director Antony Beckmand.
Beckmand has been the chief financial officer of Northern Iron since October 2009 and has held positions at Exxaro Resources, Robe River Iron, and Perilya Limited.
“We would like to thank John for his contribution to the company over the last five years and are appreciative of his offer to make his skills and experience available for the next six months to assist Tony and the management team in Kirkenes in what will be a seamless transition,” Northern Iron chairman Peter Bilbe said.
“We wish Tony all the best in his new role, and note that his significant experience with the company, the management team and current knowledge of the challenges ahead make him an ideal candidate for this role.”
Buccaneer Energy (ASX: BCC) advised the market that Brian Moller has been appointed to the board as a non-executive director.
In addition Dean Gallegos has been appointed as chairman of the board.
Appointment of Director
Rey Resources (ASX: REY) has appointed Dachun Zhang as independent non-executive director to the company.
Zhang has a Bachelor’s Degree from Poznan University, Poland and a Master’s Degree from the University of Wales, UK and was conferred the qualification of Senior Economist in Shipping Management by the Ministry of Communications of China.
Zhang was most recently executive director and president of China Merchants Group, as well as the chairman of Merchants International Co. Ltd (a listed Hong Kong company).
Previously his career was with COSCO (a Chinese company and one of the world’s largest shipping groups) where he held the positions of executive vice-chairman and president of COSCO (Hong Kong) Group Ltd, as well as vice-chairman of two Hong Kong-listed companies: COSCO Pacific Co. Ltd and COSCO International Holdings Co. Ltd.
Appointment of executive director
Argo Exploration (ASX: AXT) has appointed Andrew Van Der Zwan as an executive director of the company.
Van Der Zwan was appointed as a non-executive director of the company in March 2013 and since his appointment has been running the company on a day to day basis.
He is to be remunerated at a level of $60,000 per annum.
Retirement of chairman
Walkabout Resources (ASX: WKT) announced the retirement of George Kenway as chairman and director of the Board as at 30 June 2013.
Kenway is a founder member of Walkabout Resources and has served as chairman since shortly after the company merged with Nimrodel Resources in 2011.
The company has, until further notice, decided not to replace the position of Chairman.
Changes to Board of directors
Lawson Gold (ASX: LSN) announced a number of changes to its Board to introduce a new approach to the management of the company’s tenement package and search for on-going investment opportunities.
The company has accepted the resignations of David Hillier, David Turvey and Peter Watson and appointed Simon O’Loughlin as chairman, Peter Reid as an executive director and Donald Stephens as non–executive director.
Stephens will also continue as company secretary.
The incoming board will stand for approval at the next AGM of the company. They will hold these positions in a temporary capacity until approved by shareholders.
Kula gold (ASX:KGD) announced that managing director and chief executive officer, Lee Spencer and chief financial officer, John Watkins will step down from their executive roles and remain on the Board as non-executive directors.
Stuart Pether, previously chief operations officer will be appointed chief executive officer.
Pether is a qualified mining engineer with over 25 years of experience, who started with the company in February this year.
“On behalf of the Board, I would like to thank Lee and John for their considerable contribution and efforts,” Kula Gold chairman David Frecker said.
“Both have been instrumental in developing the company’s Woodlark Island gold project from discovery, through a successful Bankable Feasibility Study to the current permitting stage.
“We are fortunate to retain Lee and John’s experience, skills and established stakeholder relationships on the Board as the company implements a number of cost control measures and works towards achieving its key project development milestones.
“Stuart has proved to be an invaluable addition to the management team.
“He has the right skill set to lead the company through the next crucial permitting and construction phase and into its transition to becoming a gold producer.”