Cokal announces new executive team
Thursday, May 2 2013 - 11:38 AM WIB
ASX-listed Cokal Limited announced on Thursday that it has appointed Garry Kielenstyn as Indonesian Country Manager, in particular to manage and deliver the Bumi Barito Mineral Coal Project (BBM).
Peter Lynch will assume the role of Chairman and Chief Executive Officer, with Jim Middleton stepping down from his role (as CEO and Managing Director) with Cokal. The majority of the responsibilities will be undertaken by both the Indonesian Country Manager and the Chairman.
"The recent approval of the BBM Project Environmental Study (AMDAL) and Mining Licence (IUP) has further increased activity in the Indonesian area. Full time executive management on the ground in Indonesia will assist getting the project up and running smoothly arid in line with our schedule,? Executive Chairman Peter Lynch said.
"Jim has been with us since the inception of Cokal and we both believe that an Australian based position is no longer justified with the specific focus on Indonesia. It is with regret that he was unable to relocate to Indonesia given his personal commitments. We wish Jim all the best and thank him for his contribution,? he said.
Garry Kielenstyn commenced his formal employment on 1st May 2013, but has previously participated project briefings with key Cokal management. In view of Lynch?s increased responsibilities of Chairman and CEO, his contract will be now be based on a daily rate of A$2,500 per day exclusive of GST, based on the application of a minimum of 80% of his available time.
Editing by Er Audy Zandri