30 May '16, 12am

JUST IN: #Singapore-listed Noble Group CEO Yusuf Alireza resigns

SINGAPORE - Singapore-listed commodity firm Noble Group announced on Monday morning (May 30) that its chief executive officer Yusuf Alireza has resigned with immediate effect. In a separate announcement on Monday, the company said Mr Alireza will be replaced by co-CEOs - executive director William Randall and president of Noble Americas Jeff Frase. It also announced on Monday that it will shortly be starting the sale process for Noble Americas Energy Solutions and said it expects "to generate both significant cash proceeds and profits to substantially enhance the balance sheet". Formerly named Sempra Energy Solutions, it was acquired by Noble in 2010 for US$582 million. The power marketer offers supply and risk management services to commercial and industrial customers. Its sale will be in addition to fund-raising initiatives previously announced, said Noble. Noble has bee...

Full article: http://www.straitstimes.com/business/companies-markets/no...

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