Australian-based international iron ore company Sundance Resources (ASX:SDL) is finally emerging from the shadow of the tragedy which wiped out its board of directors having appointed a new chief executive. The company lost its entire board and management team in a plane crash earlier this year. The crash took place in the Republic of Congo in June.
Those who perished in the crash included key senior managers such as Mr Lewis, chairman Geoff Wedlock, company secretary John Carr-Gregg, directors Ken Talbot, John Jones and Craig Oliver and consultant Jeff Duff.
Sundance Resources has appointed Giulio Casello a former senior executive with Sinosteel Midwest as its new managing director and chief executive. He will replace Don Lewis who also perished in the plane crash this June. Mr Casello will assume the position on 8 November 2010 relieving acting chief executive Peter Canterbury who will resume his role as chief financial officer.
This has the concurrence of the current chairman George Jones and is the final appointment in restructuring the management and board of directors. Mr Jones thanked investment banker Adam Rankine-Wilson for his support. He will be resigning as a director on October 14, 2010. The company is not set for a second innings with a new team in place.
Sundance is developing the Mbalam Iron Ore Project, situated in the Republic of Cameroon in central west Africa.