Freeport to reshuffle top management
Thursday, May 25 2000 - 02:15 AM WIB
Gold and copper mining giant PT Freeport Indonesia will reshuffle its board of directors and commissioners following a series of incidents that seriously affect the company's performance, according to a source.
The source was quoted by the Neraca daily as saying that only one or two of the current directors (vice president) would be retained to accompany president Adrianto Machribie.
The source added that the management reshuffle would be made at this week's shareholders meeting.
Freeport is 81.28 percent owned by U.S. mining firm Freeport McMoran Copper & Gold, the Indonesian government 9.36 percent, and PT Nusamba 9.36 percent.
The source also said that the shareholders meeting might decide to increase the number of vice presidents to more than seven to accommodate demands from the people of the Papua province who wish to see indigenous people at the board of directors. (*)