Golden Energy and Resources appoints new CEO

INTERNATIONAL coal mining and trading company Golden Energy and Resources (Gear) on Monday announced that its deputy group chief executive Dwi Prasetyo Suseno has been promoted to group chief executive.

His career in Gear began in April 2018, when he was appointed director in Gear Trading Enterprise. In October 2019, he took another role, that of director at Gear Renewables. Before Gear, he was executive director and group chief financial officer of Straits Corporation Group, from 2010 to January 2015.

Mr Suseno will be responsible for overseeing the overall management and operations of the group. He fills the shoes of Fuganto Widjaja, who has been redesignated as executive chairman. In his new position, he oversees the overall management, operations, strategic planning and business development of the group.

Gear also announced the resignation of Lay Krisnan Cahya as non-executive director and chairman, effective Feb 8. The company said in a bourse filing on Monday that Mr Cahya, who has served on the board since 2015, "does not have sufficient time to discharge his duties".

The same day, the group also announced that Mark Zhou had been appointed as an executive director and chief investment officer (CIO) of Gear. He had assumed this role last December. Before this appointment, he had been senior head of investments since August 2019.

In other board committee appointments announced Monday, Gear said that Djuangga Mangasi Mangunsong, current independent non-executive director, has been appointed as a member of the audit committee, and also as a member of the nominating committee.

Shares of Gear closed down S$0.013 or 7.83 per cent at S$0.153 on Monday before these announcements.