Aug 13, 2011

INCO to appoint new president in Sept.

PT International Nickel  Indonesia Tbk (INCO) reported on Friday that Tony Wenas has tendered  his resignation as President Director of the company due to personal and family reasons.
Tony Wenas’ decision has been communicated to the employees of the company. To ensure a smooth transition, a successor has been identified and will be proposed to the shareholders of the company for appointment at a general meeting of shareholders expected to be held in September 2011. 
Tony Wenas will continue to assist the company after his departure.  The company re-emphasizes its strong commitment to implementing existing initiatives and growth plans to achieve annual production of 120,000 metric tons in the near future.
The plans are part of a comprehensive strategy that the  company believes will  continue to generate meaningful shareholder returns, enhance the social and economic development of the communities where it operates and generate further revenues for all Indonesian society. 

Disclosure: No position at the stock mentioned above.

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