THE BOARD of scandal-tainted mining group ENRC yesterday confirmed that Gerhard Ammann has been appointed as chairman, having held the role on an interim basis since Mehmet Dalman’s resignation last month.
The company said that chief executive Felix Vulis would assume the executive responsibilities for corporate functions previously associated with the role of chairman, including finance, risk, human resources, legal & compliance and investor relations.
ENRC – which is currently facing a possible takeover bid from major shareholders – has seen a number of corporate changes in recent months.
Chief commercial officer Jim Cochrane resigned in April and legal counsel Dechert was replaced with Fulcrum Chambers.
The mining group’s brokers Deutsche Bank and Morgan Stanley resigned earlier in May, marking the end of ENRC’s relationship with the two banks which floated it on the London Stock Exchange in 2007.
ENRC has been struggling to claw back its reputation after the Serious Fraud Office began formally looking into its dealings in Kazakhstan and Africa last month.