2nd Jan 2019 09:55
LONDON (Alliance News) - Centamin PLC said Wednesday its current executive chairman will remain with the company as a non-executive chair during the coming year as the search for a successor continues.
The miner has appointed global executive search firm Egon Zehnder to assist in its search for a new non-executive chairman. It has appointed three independent non-executive directors, one of whom will become non-executive chair in 2020.
Meanwhile, current Executive Chairman Josef El-Raghy will remain with the company as non-executive chair. He will not join any committees, and his executive duties were handed over to Centamin's executive team in 2018.
El-Raghy's intention to retire was first announced by Centamin at the start of 2018.
Centamin said that the recruitment of an independent non-executive chairman "remains a key priority".
Following these changes, the Centamin board will consist of eight members, with two executive and six-non-executives. Of the non-executives, five are independent.
"I warmly welcome Josef to the new role of non-executive chair. Josef has a deep care and understanding of the business. He is a strong, values-driven leader. Together with the board, we look forward to delivering a consistent growth strategy for 2019," Centamin Senior Independent Non-Executive Director Edward Haslam.
Shares in Centamin were up 0.3% at 109.15 pence on Wednesday.
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