GSS Energy announces resignation of executive director

Ry Ruli Setiawan

SGX-listed GSS Energy Limited announced Monday the effective resignation of Charles Madhavan as executive director of the company and managing director of its subsidiary Cepu Sakti Energy Pte Ltd (CSE).

The resignation comes following settlement agreement on Monday between GSS Energy and Java Petral Energy Pte Ltd in relation to the acquisition of the entire remaining shares of CSE by the former company.

?Charles Madhavan is resigning to pursue is personal interests,? GSS Energy said, adding that the group?s Chief Executive Officer, Yeung Kin Bond, and Executive Director, Mr Suyulianto Badung Tariono will be responsible for the management of the group?s oil and gas business segment.

Following the above change, with effect from August 17, 2015, the Board will comprise:
Chin Siew Gim Non-Executive Chairman, Independent Director
Yeung Kin Bond, Sydney Executive Director
Tan Kay Guan Executive Director
Suyulianto Badung Tariono Executive Director
Ng Say Tiong Executive Director
Chee Sanford Independent Director
Anthony Kuek Independent Director

Editing by Reiner Simanjuntak