Another new broom for Metarock as CEO is moved on
Mining services company Metarock has dumped its chief executive and brought in a new management team to “resolve its financial difficulties”.
Metarock has changed management again to resolve financial difficulties (file photo)
It comes less than a year after bringing in a management team and a recapitalisation.
The company announced that Jeff Whiteman would move from chief financial officer to interim chief executive to replace Paul Green, who has now parted ways with the company.
Green was appointed managing director in October.
Wayne Price has been appointed executive general manager and Peter Barker has been made an advisor.
Acting chair Murray Smith said Whiteman’s appointment as interim CEO reflected his strong contribution in the past six months as Metarock “sought to resolve its financial difficulties and completed its recent recapitalisation”.
That recapitalisation led to M Mining Services getting a controlling stake in Metarock.
The company was also in advanced negotiations for the sale of idle mining equipment for about $19.7 million.
Proceeds would be used to pay down debt.
