THE BOURSE WHISPERER: The regular game of musical chairs
continues within the boardrooms across the resources industry. The
Whisperer pokes his head down the corridors of power to take a quick
look at some of the chairs to have recently been vacated and to find out
which ones have been filled:
Appointment of New Directors
Gloucester Coal has appointed two new directors, Dr Julie Beeby and Brendan McPherson.
Beeby will be an independent non-executive director of Gloucester Coal.
She is a development and change management leader with extensive experience in the energy sector in general management, business development and specialist project management roles.
Her career spans 22 years in the Australian coal mining, petroleum and gas industries.
McPherson has been appointed managing director and is currently the chief executive officer of Gloucester Coal.
Shareholder approval for the election of Beeby and Denis Gately, who was appointed as a director earlier this year, will be sought at Gloucester Coal’s AGM.
As part of the company’s Board of Director rotation requirements, David Brownell and Ricardo Leiman will retire at the AGM.
Leiman will be standing for re-election; however, Brownell has opted not to stand for re-election.
Firestone Appoints Directors
Firestone Energy has made changes to its Board.
Morore Benjamin (Ben) Mphahlele and Kobus Terblanche have been appointed non-executive directors.
Sizwe Nkosi has terminated his executive role to take up another senior executive role.
Nkosi has agreed to continue as a non-executive director.
Appointment of Non-Executive Director
PlatSearch has appointed Alan Breen as a non-executive director.
Breen is a metallurgist with over 35 years operational and executive management experience across a diverse range of commodities in Australasia, Europe and Africa.
He has held senior and executive management roles with Xstrata, Rio Tinto Aluminium and, more recently, at Ok Tedi Mining where he held the position of managing director for four years.
Breen has previously been a director of Britannia Refined Metals, Brittannia Recycling, MIM Holdings (UK) and Ok Tedi Mining.
New Director appointed at Marenica
Marenica Energy has appointed Nelson Chen, as a non-executive director.
Chen has served as chief operating officer of Hanlong (Australia) Resources since March 2010.
He has served as a director of Hanlong (Australia) Resources since June 2010 and has served on the board of Moly Mines as an alternate director to the principal of Hanlong Group since April 2010.
New Managing Director appointed Reconstruction of Board
Republic Gold has appointed Raymond Shorrocks as chairman and Campbell Smith as managing director.
Smith was previously managing director of Galilee Energy. He has worked at Jeebropilly, Ernst Henry and Savage River Mines in Australia as well as MICCL’s No.1 Copper mine in Myanmar.
He also developed the Cascade, Whareatea and Takitimu coal mines in New Zealand for Galilee Energy.
New chairman Shorrocks has over 20 years’ experience in the finance industry.
The previous Chairman Peter Wicks will remain as a non-executive director.
Western Areas Director retires; new Independent Director appointed.
David Cooper has retired from the Board of Western Areas.
Cooper was one of the founding directors of Western Areas in January 2000.
He has filled many roles including chairman from 2006 to 2007 as well as being chairman of several Board committees.
The company has appointed Mr Ian Macliver as an independent non-executive director.
Macliver is managing director of Grange Consulting Group, a specialist Corporate Advisory business.
His experience covers all areas of corporate activity including capital raisings, acquisitions, takeovers, business and strategic planning, debt and equity reconstructions, operating projects and financial reviews and valuations.
Macliver is currently a director and chairman of a number of ASX listed companies.
Appointment of Independent Non-Executive
OM Holdings has appointed Zainul Abidin Rasheed as an independent non-executive director.
Zainul Abidin will hold the position of independent deputy chairman.
Zainul Abidin was until recently a Member of Parliament and the Senior Minister of State for the Ministry of Foreign Affairs of the Government of Singapore, a position he held since 2006.
He holds a Bachelor of Arts (Honours) in Economics and Malay Studies from the National University of Singapore.
Zainul Abidin will be a member of the Company’s Audit and Remuneration Committees.
In his role as independent deputy chairman he will also assume the role of lead independent non-executive director.