Director and Senior Management Changes (7735S)
November 25 2011 - 2:00AM
UK Regulatory
TIDMPAL
RNS Number : 7735S
Equatorial Palm Oil plc
25 November 2011
25 November 2011
EQUATORIAL PALM OIL plc
("EPO" or the "Company")
Director and Senior Management Changes
Equatorial Palm Oil plc, (AIM: PAL), the AIM listed palm oil
development company with operations in Liberia, announces changes
to the Company's Board of Directors and senior management team.
Senior Management Team
The Company is pleased to announce the appointment of Mr Declan
Griffin as Head of Country, Liberia, with immediate effect. Mr
Griffin will be based in Liberia on a full time basis and will have
overall responsibility for all in-country operations including the
finance and administration functions. Mr. Griffin has nearly 30
years' of global experience working in similar roles. He was most
recently with Steinsky Asset Management in the Czech Republic,
having previously worked for four years as the Finance and
Operations Director for a manufacturing subsidiary of Flour Mills
of Nigeria Plc and prior to that was with Xerox Group, primarily in
Africa and the Middle East. Mr Griffin initially trained at Price
Waterhouse. He is a Fellow of the Institute of Chartered
Accountants (Ireland) and has a Masters of Business Administration
from Trinity College, University of Dublin.
The Company is also pleased to announce the appointment of Mr
Sashi Nambiar as Head of Operations based in Liberia. Mr Nambiar
has 32 years' experience in all aspects of oil palm estates. During
this time, he supervised the establishment and development of a
large number of estates over a combined area of more than 100,000
hectares, including managing over 20,000 hectares of new planting
development at Ketapang, Indonesia. Mr Nambiar will be responsible
for the management of all in-country operations and will report to
Mr Griffin.
Board of Directors
Mr Peter Bayliss, the Company's Managing Director, is to resign
from the Company's Board of Directors with immediate effect, in
order to pursue other business interests. The Board would like to
thank Mr Bayliss for his significant contribution to the Company
and wishes him well for the future.
Mr Geoffrey Brown, the Company's existing Executive Plantations
Director, will assume all of Mr Bayliss' director functions. Mr
Brown has almost 40 years' experience in the development and
management of oil palm estates around the world and has been an
integral part of the Company's leadership team since its initial
involvement in the Liberian project.
Michael Frayne, Executive Chairman of EPO, commented:
"As the Company and the operations in Liberiahas grown we have
seen the natural requirement to restructure our management team in
Liberia. The appointments of Mr Griffin and Mr Nambiar will
significantly strengthen our team, both on an administrative and
operational level. The experience and expertise they bring will be
of enormous value, as the Company increases its production and
develops its oil palm estates further.
"We are looking forward to the next stage of EPO's development,
as we bring the Palm Bay mill up to full production. The recent
elections in Liberia have now concluded, and we look forward to
working with a government committed to continuing their country's
economic development.
"Finally, I would like to thank Peter for his contribution and
for the part he has played in establishing EPO as a significant
player in the palm oil industry. I wish him all the best for the
future."
For further information, please contact:
Equatorial Palm Oil plc
Michael Frayne (Chairman) +44 (0) 20 7766
www.epoil.co.uk 7555
Strand Hanson Limited (Nominated Adviser) +44 (0) 20 7409
James Harris / Paul Cocker 3494
Mirabaud Securities LLP (Broker) +44 (0) 20 7484
Peter Krens 3510
Pelham Bell Pottinger (Financial/ Corporate
PR) +44 (0) 20 7861
Archie Berens / Philippe Polman 3126
About Equatorial Palm Oil
Equatorial Palm Oil aims to become a global scale, sustainable,
low cost producer of crude palm oil, initially redeveloping
existing plantations in Liberia, the Company is now developing new
additional land banks. The Group operates the only commercial palm
oil mill in Liberia and is in the process of expanding operations
in order to target production levels of 5 tonnes per hour. The
Company has also entered into a joint venture with Biopalm Energy
Ltd, a subsidiary of the Siva Group, who invests in oil palm
projects around the world.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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