CEO Of Asia’s Largest Commodity Trader Unexpectedly Resigns
by Tyler Durden
ZeroHedge.com
05/29/2016
We have tracked the problems of recently junked Noble Group – Asia’s largest commodity trader – extensively over the past year. Then, moments ago things finally turned serious for the company, announced moments ago on the Singapore stock exchange, not only is CEO Alireza resigning, to be replaced by William Randall and Jeff Frase as co-CEOs, but the company will also begin the sale process of its Noble Americas Energy Solutions, one of its star assets, in a deal that will generate “significant cash proceeds”, which is the best confirmation just how desperate for cash the company truly is.
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