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
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