(MENAFN- ProactiveInvestors - Australia) Cougar Energy (ASX: CXY) has restructured its board with the resignation of three directors and the appointment of two new directors in line with its new focus on developing its conventional coal assets.
Malcolm McAully, Dr Len Walker and Sarah-Jane Christensen have tendered their resignations as directors of the company while Andrew Matheson and Andrew Purcell have been appointed to the board.
Rob Neill will remain in his role as chief executive officer and a director of the board.
He thanked the outgoing directors and said that Matheson and Purcell would bring extensive experience in the resources sector, finance and corporate turnarounds to the board.
"I believe they are well suited to drive the transformation of Cougar Energy."
New directors
Matheson has over 25 years of professional experience within the resources, mining and engineering sectors covering a wide range of commodities across Australia, Indonesia, Africa and Papua New Guinea.
His skill set covers exploration; project evaluation and strategy; project development and construction; and infrastructure management; along with the management of underground and surface mining operations.
Matheson is the former Managing Director of Realm Resources (ASX: RRP) and prior to that was the chief executive officer â€" Carbon Materials for the Ken Talbot Group.
He has also served as the general manager of coal with Aquila Resources (ASX: AQA) and a non-executive director of Goldminex Resources (ASX: GMX).
In addition to these roles, Matheson has held various operational, project management and commercial roles with BHP Billiton (ASX: BHP) spanning some 13 years.
Purcell has over 20 years experience across the finance, oil & gas and coal sectors.
He is a former director of Credit Suisse in Australia and China and held an executive role with Macquarie Bank prior to that.
Whilst at Credit Suisse he provided corporate turnaround and restructuring advice in the petrochemical, heavy engineering and resources sectors across Australia, Indonesia, Malaysia, India and Thailand.
He is also the executive chairman of Teknix Capital, a firm he established to focus primarily on the development of projects in the natural and mineral resources sectors across Australia and Indonesia.
Cougar Energy confirms that the recently announced works program continues at its Mackenzie coal tenement for the generation of the maiden JORC resource at that site.
Mackenzie has an exploration target of 120 million to 170 million tonnes and is adjacent to the Jellinbah (PCI) and Yarrabee (PCI and Thermal) coal mines.
This is part of its strategy to unlock the value of its metallurgical and thermal coal assets in Queensland and attracting investor attention.
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