JOHANNESBURG (miningweekly.com) - Aim-listed coal miner Ncondezi Energy CEO Paul Venter will soon step down from his position, as well as his role as executive director.
He will be replaced by the company’s current COO Chris Schutte. Venter’s reason for leaving, as well as his date of departure, were not divulged.
The company also announced that Aman Sachdeva was appointed as a new nonexecutive director, following the $5-million placing to African Finance Corporation (AFC) in December.
AFC held 54.9-million shares in Ncondezi, representing a 22.0% shareholding.
“Sachdeva brings a wealth of experience to the Ncondezi board, having spent more than 20 years in the infrastructure industry, specialising in the energy sector,” Ncondezi said in a statement.
This ranged from project finance, management consulting, regulatory affairs, mergers and acquisitions, power system planning, energy conservation and marketing.
Sachdeva was the founder and current CEO of Synergy Consulting, an independent consulting practice with a focus on project finance, which had to date closed projects worth $12-billion. Sachdeva was also an adviser to the World Bank’s energy sector for Central Asia, South Asia and Africa on a variety of projects.
Commenting on Venter's resignation, nonexecutive chairperson Michael Haworth said the board thanked him for the role he had played in establishing Ncondezi's power strategy over the last three years.
“During his tenure, Ncondezi has significantly advanced the development work on its 300 MW coal-fired power station in Mozambique. We would like to wish him well for the future,” he added.