Von Schirnding oversaw the Indonesian thermal coal mining company's split from the
However, it said it wouldn't distribute shares in operating subsidiary PT Berau in specie to shareholders, after major shareholders, including RACL and
"When I took over as CEO at the end of 2012, the Company needed an urgent and substantial overhaul - that job is now done. Value destruction has been addressed and a solid platform has been built for sustained value creation. I thank the board of directors and my management team for their support," von Schirnding said.
Sambodo said he will continue cutting costs and making operational improvements at Berau, which is the fifth-largest coal producer in
Most Popular Stories
- Criminal Investigation Opened Into James Foley's Death
- Koch Brothers Took Genes, Money in Different Directions
- Rocket Explodes During U.S. Test Flight
- Short-Term Loans Comes at a Heavy Price
- Is Diversity in the Eye of the Beholder?
- Apple Stock Bounces Back Big Time
- 'Mythbusters' Build Team Gets the Boot
- Jennifer Lopez Would Marry Again
- Florida Judge Rules in Favor of GOP Voter Map
- Investors Betting on ECB Stimulus Measures