KEH - Keaton Energy - Changes to the Board: Rowan Karstel, Ex-Optimum, succeeds Release Date: 06/06/2012 13:00:02 Code(s): KEH
KEH - Keaton Energy - Changes to the Board: Rowan Karstel, Ex-Optimum, succeeds
Paul Miller as CEO
Keaton Energy Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/011090/06)
JSE code: KEH ISIN code: ZAE000117420
("Keaton Energy" or "the company")
CHANGES TO THE BOARD
ROWAN KARSTEL, EX-OPTIMUM, SUCCEEDS PAUL MILLER AS CEO
Johannesburg, South Africa. 06 June 2012. Keaton Energy has announced the
appointment of former Optimum Coal Holdings Chief Project Officer Rowan Karstel
as Chief Executive Officer to succeed present incumbent Paul Miller with effect
from 1 July 2012.
Former Nedbank Capital corporate financier Miller (42) - who has led Keaton
Energy from its foundation as an empowered greenfields junior coal explorer five
years ago to a producer with the capacity to deliver more than 2.7Mt of coal a
year into domestic and export markets - will continue to consult to the company
for a period of up to six months, concentrating on the company`s growth plan.
Karstel (49) - a professional engineer who holds bachelor`s degrees in mining
and civil engineering and both an MSc in mineral economics and an MBA - was
responsible for the development and execution of Optimum Coal`s project pipeline
prior to the company`s acquisition by Glencore International plc. He was also
involved in business development and mine planning for the company.
Karstel began his career in deep-level gold mining before moving into coal
mining where he served both locally and internationally in various capacities
for BHP Billiton, and subsequently with Xstrata Coal as General Manager:
Technical Services and Business Development. Prior to joining Optimum Coal, he
was Director: Business Development for Mmakau Mining and Chief Operating Officer
for Mmakau Coal.
Keaton Energy Non-executive Chairman Dr David Salter paid tribute to Miller for
his "enormous" contribution to the company in its formative years and welcomed
Karstel as "a worthy successor".
"The Board of Directors is extremely grateful to Paul for his skill, dedication
and energy in walking the `hard yards` with us over the past five years; he has
contributed immeasurably to the establishment of a solid production platform and
we are pleased he remains available to us during the critical handover period.
Few people succeed in leading a company from prospecting to meaningful
production. Paul gave a commitment to the Board to do just that - and did it
with aplomb, as our recent year-end results confirmed.
An exhaustive industry search led us to select Rowan as Paul`s replacement.
Rowan brings a wealth of coal sector operational, leadership and business
development experience to Keaton Energy. We look forward to his leading the
company through its next stage of growth and development."
6 June 2012
Date: 06/06/2012 13:00:02 Supplied by www.sharenet.co.za
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