Coal trade

Coal trade

The game of corporate musical chairs never loses its fascination, especially in our embattled resources sector.
Guildford Coal, which recently made the position of managing director "redundant" – and said sayonara to its MD Andrew Lawson – has appointed a chief executive.

The new broom is none other than Guildford Coal's managing director, Peter Kane, who recently resigned from that coal digger "due to personal reasons".

Maybe he just didn't like the prospect of working under another Novocastrian businessman.

Craig Ransley was recently reappointed to the Guildford Coal board as "acting chairman", despite the fact he was found to have acted corruptly by the ICAC last year.

Kane, who also includes 10 years at Leighton's on his resume, may have been counting on Guildford's original plan to appoint his former Leighton boss, Wal King, as chairman.

That was put on ice while the company fended off the advances of Singaporean outfit, Sino Construction.
Kane was previously a lieutenant of another famous Newcastle boy by the name of Nathan Tinkler.
At one stage Kane was chief executive of Mr Tinkler's private company, Boardwalk Resources, as well as Aston Resources.

Rumour has it that Ransley has taken up residence in Singapore and is a neighbour of Tinkler on Sentosa Island.


Read more: http://www.smh.com.au/business/cbd/...g-medcraft-20150322-1m3w86.html#ixzz3VAM4DRwe