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Johannesburg – Coal of Africa [JSE:CZA] said Tuesday that CEO John Wallington will not be renewing his contract with the company by mutual agreement with his executive role ending on 31 May 2013.
Wallington’s three-year contract with CoAL commenced in May 2010 and he has been instrumental in enabling the company to overcome the varied regulatory challenges since the beginning of his tenure‚ the company said.
In addition to his role as the chairperson of CoAL‚ David Brown will become the interim CEO for a maximum period of six months while the appointment of a permanent successor will be progressed.
On behalf of the board‚ I would like to thank John for his commitment and contribution in what has been a difficult and challenging period for the company and wish him well for the future. John has effectively established sound relations with the relevant government departments and civil society‚ and a resilient management team that is equipped to take CoAL from an exploration to a mining company‚" said Brown.
Professor Alfred Nevhutanda‚ currently the executive director corporate affairs‚ has also by mutual agreement tendered his resignation from the board with effect from 30 April 2013. Professor Nevhutanda joined the board on 2 February 2009.
"On behalf of the board‚ I would like to thank Professor Nevhutanda for his continued dedication in establishing the company’s stakeholder structures in the areas we operate‚ particularly in the Limpopo province where the key coking projects which include Makhado are located" said Brown.
"These changes will enable the company
to continue to remain focussed on the key organisational processes to enable
CoAL to migrate to a world class producer of coking and thermal coal."
Brown said.
