Noble's new CEOs face outstanding challenges

Geneva

YUSUF Alireza has gone but Noble Group Ltd's challenges remain. The commodity trader that announced Mr Alireza's resignation as chief executive officer on Monday as yet more assets were put up for sale, still faces the hurdle of raising about US$1 billion to shore up its balance sheet.

The company maintains its plan to raise US$1 billion through redeploying capital from low-return businesses, non-core asset sales, and other capital-raising initiatives, an external spokeswoman for the company told Bloomberg News. The proposed sale of Noble Americas Energy Solutions, announced on Monday, is supplementary to this plan, she said.