New Freeport boss must obtain government approval
The Jakarta Post
Gold mining giant PT Freeport Indonesia (PTFI) has been reminded that it must report any changes in its board of directors to the government and seek its approval.
"In accordance with the contract of work, any change in directors must be approved by government," Energy and Mineral Resources Ministry director general of minerals and coal Bambang Gatot Ariyono told thejakartapost.com on Tuesday.
The government can approve or reject a new president director of the company appointed by Freeport McMoran Copper & Gold Inc., he said, adding that PTFI had yet to formally report the resignation of its president director, Maroef Sjamsoeddin.
In an internal memo sent to Freeport Indonesia employees on Monday, Freeport McMoran Copper & Gold Inc. president Richard C. Adkerson said 'Freeport is in the process to appoint the new president director of its subsidiary company in Indonesia.'
PTFI director and executive vice president Robert C. Schroeder will temporary take over as president director of the mining giant, following the resignation of Maroef on Monday.
"For a while, Robert Schroeder who currently serves as director and executive vice president will continue Maroef's responsibilities. All officials of the company that previously reported to the president director will report to Robert Schroeder," Adkerson said in a statement.
Adkerson also stated that Maroef had handed in his resignation on Monday for personal reasons and that the company had accepted his resignation.
According to a memorandum sent to Freeport Indonesia employees, Maroef explained his resignation was because his employment contract as president director had expired. Although Freeport McMoran had offered him an extension on his contract, Maroef decided not to remain with the company.
"I have handed in my resignation as the president director of PT Freeport Indonesia," Maroef stated in a written statement. (bbn)
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