Bumi may appoint former BP executive as new chairman
John Manzoni is likely to oversee the company’s board activities.
Indonesia-based coal producer Bumi is likely to appoint former BP executive John Manzoni as its new chairman.
This appointment may come following Bumi’s split from majority shareholder, the Bakrie family, according to media reports.
Bumi, which has been co-founded by financier Nat Rothschild, however, has not revealed the appointment officially.
Manzoni, who is also expected to head the board of Bumi, was associated with BP for 24 years. Between 2007 and 2012, he was CEO of the Canadian upstream oil and gas explorer Talisman Energy.
The Bakrie family and Rothschild have fell out due to accusations of financial irregularities.
Manzoni’s responsibilities are likely to include settling of the company’s disputes, particularly between the Bakrie family and Rothschild, apart from overseeing board.
Established in 2010, Bumi is an FTSE listed thermal coal group that explores, mines and processes coal and other minerals. It has an 85 per cent stake in Berau Coal and 29.2 per cent stake in Bumi Resources Group.