7th Jul 2014 14:53
LONDON (Alliance News) - Strategic Natural Resources PLC Monday said that Chairman and Chief Executive Officer Alexander MacDonald has resigned.
The AIM-listed natural resources developer operating in South Africa, which indirectly owns 74% of Elitheni Coal Ltd, appointed new members, including MacDonald, to the board back in May.
Back in May, MacDonald, aged 66, was appointed as chairman and chief executive, Michael Drozd, 57, appointed chief operating officer, and Michael Shore, 62, was appointed finance director.
In the company's statement Monday, Strategic Natural Resources did not give a reason for MacDonald's resignation, but said he resigned on July 6.
"The current executive management team of Gavin Bonnar, Mike Drozd and Michael Shore continue to work towards appointing a new Nomad," the company said in its statement.
Strategic Natural Resources shares were untraded Monday afternoon at 2.88 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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