ARCHIPELAGO RESOURCES has announced that chief financial officer Colin Sutherland will replace chief executive officer Marcus Engelbrecht at the end of the month.
Engelbrecht, who also serves as managing director, has resigned to pursue other opportunities, the company said. Sutherland will assume the position of chief executive officer and will retain his responsibilities as CFO 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 and president at Capital Gold Corp.
Stephen Sulistyo, Archipelago chairman, said: “On behalf of the Board, I thank Marcus for his significant contribution to Archipelago. 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.”
Archipelago shares were up 0.25p to 52p in morning trading on the London Stock Exchange.
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