METALS PEOPLE - Noble Group chairman Richard Elman to step down within a year

Vivian Teovivian.teo@fastmarkets.comJoint News Editor - Asia

Singapore 03/06/2016 - Noble Group’s chairman Richard Elman plans to step down as executive chairman within the next 12 months, the company announced on Friday.

Noble’s board will set up a sub-committee - chaired by David Eldon, a non-executive director - to examine options for his succession and identify a successor to assume the role of non-executive chairman, it said.

“This matter will be discussed extensively by the Board over the coming months with the objective of ensuring a smooth and orderly transition. Shareholders will be kept informed of progress,” it added.

Elman’s plan to step down follows the surprise resignation of CEO Yusuf Alireza earlier this week.

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