RE: Market always knows27 Feb 2025 12:33
Board Change
19th February
Arvind Balan said:
"Regrettably, I made an honest oversight with respect to the description of my professional qualification as a chartered accountant instead of a certified practicing accountant.
"I continue to believe in the long-term potential of the company and its people. My decision is based on minimising distraction at this very pivotal time with our investors and lenders".
They were already talking to their lenders and today's appointment has no bearing on how the negotiations are progressing with Sidara.
Torrens is a 30 year veteran and will put the company in a strong position during talks.
Iain Torrens, interim Chief Financial Officer, said:
"I am pleased to join Wood's Board and executive management team. While there are clear challenges today, I am focused on the significant opportunity here and look forward to working with Ken and the team to help realise this."