Archipelago?s CEO to resign in May

By Andi Istrada

LSX-listed Archipelago Resources plc reported on Tuesday that its Managing Director and Chief Executive Officer Marcus Engelbrecht would resign by 30 May 2013 .

The company said that Colin Sutherland will assume the position of Chief Executive Officer.

Sutherland is currently Chief Financial Officer and will also retain those responsibilities for an interim period.

Sutherland joined the Company in March 2012 and has previously acted in the position of Chief Executive Officer at Nayarit Gold Inc. and President at Capital Gold Corp.

Stephen Sulistyo, Archipelago Chairman said ?Marcus has driven our Toka Tindung Mine forward from development to production and his leadership has positioned the Company to continue our strategy of growth and returns to shareholders. I wish him well for his future career. I also look forward to building on Archipelago's achievements with Colin as our new CEO."

Editing by Adianto P. Simamora