The Jakarta Post | March 28, 2010
Indonesian coal entrepreneur Samin Tan has been appointed as chairman of coal miner Bumi Plc., and co-founder Nathaniel Rothschild was ousted from a co-chairman position after a public spat between Rothschild and fellow owners, the Bakrie Group.
Rothschild had clashed with the Bakrie Group and called for a “radical cleaning up” in its “over-leveraged” Bumi Resources, of which Rothschild owns approximately 12 percent through Bumi Plc.
Bakrie then sold a 23.8 percent stake in Bumi Plc. to Samin Tan’s PT Borneo Lumbung Energi. This team-up, accounting for 29.9 percent of Bumi Plc., caused Rothschild to lose his position as co-chairman.
URL:http://www.thejakartapost.com/news/2012/03/28/bumi-plc-restructures-top-positions-end-infighting.html
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