Kibo Energy PLC - group with energy projects in Africa and UK - Appoints Cobus van der Merwe as its new chief financial officer from June 1. The current finance chief, Pieter Krugel, is leaving Kibo to join Mast Energy Developments PLC as chief executive from June 1.
Van der Merwe has over 10 years experience in managerial and executive roles in the investment management and the energy, utilities and resources sectors. Most recently, he held a senior management position at PricewaterhouseCoopers, servicing clients based in the UK, Ireland and Africa.
Mast, in its own statement, says current CEO Paul Venter will step down from the role but to remain with the company as a non-executive director. Krugel will not be joining the Mast board as a director at this stage. Kibo holds 55% stake in Mast.
London stock price close: 0.16 pence
12-month change: down 43%
Johannesburg stock price close: ZAR0.06
12-month change: down 57%
By Artwell Dlamini; artwelldlamini@alliancenews.com
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Kibo Energy (KIBO)
Mast Energy. (MAST)