Thursday May 1, 04:03 PM
Consolidated Africa Mining cuts 3 board seats citing tough markets UPDATE
(Updating with details of outgoing board members)
LONDON (Thomson Financial) - Consolidated Africa Mining Plc. said it has scaled down the size of its board to four members from seven and said the reduction is in response to tough
market conditions.
'The changes have been resolved... for cost control purposes, in light of current difficult credit and capital market conditions,' the company said in a release.
Group technical director Jeremy Hawke is retiring as a director but will remain a part-time adviser on technical matters, while group geology director Andrew Phillips, who opted to leave the board for personal reasons, will remain a consultant for the group, the release said.
Non-executive director Andrew Fraser resigned from the board to pursue his other business interests, the company added.
|
Send Article by Email
