Company News: CML Group, Paladin Energy
Challenger appointed a new Chief Executive of Funds management, Nick Hamilton, after an extensive search to replace outgoing Chief Executive Mr Ian Staines (who announced his intention to retire in June of this year).
Mr Hamilton has served as General Manager of Fidante Partners (part of Challenger Group) for the past three years and has over 20 years’ experience in fund management.
Last week we established a position in Newcrest Mining. Newcrest Mining is a large gold producer (with a market capitalisation of $27 billion) with a multi-asset, geographically diversified portfolio.
Our position serves to bolster our exposure to gold (for more information on this please see last weeks article) through a diversified, low cost, long life producer.
Paladin Energy announced the resignation of its Non-Executive Chairman, Mr Rick Crabb. Mr Crabb has served as a Non-Executive Independent Director of Paladin Energy since 1994 and has helped the company during its recent transition and restructure.
Mr David Riekie (Independent Non-Executive Director since February 2018) has been appointed as Deputy Chair while the company searches for a replacement Chair.