Pike River CEO steps down, shares fall

Pike River Coal, the company developing a coal mine on the West Coast, will lose its chief executive, Gordon Ward, at the end of October.  

PRC will announce his successor soon, the company says. Ward has led the company from its concept design phase 14 years ago up until its second export shipment which happens this month.

“The board wishes to express its thanks to Ward for his significant contribution to the growth of the company over what has been an extended and often difficult period of mine development,” the company said.

PRC’s operation has been hit by a myriad of problems over the years which have seen a number of delays. It managed to avoid any new problems with the Christchurch earthquake over the weekend to get its second export consignment loaded at Lyttelton Port.

PRC shares fell 1.8% to $1.08 after the announcement.

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Daily ShareChat: Pike River Coal
Pike River cuts production forecast, shares tumble near month-low
Pike River gains $25m short-term facility from NZOG
Pike River seeks short-term funding
Pike River announces new CEO
Pike River loss widens ahead of mining
Daily ShareChat: Pike River Coal
MARKET CLOSE: NZ stocks rise; Pike River leads gains
Pike River gets first $10 million away no trouble
Pike River Coal to mine investors for more equity