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Tungsten Corp plans boardroom re-shuffle

The changes follow July’s appointment of Rick Hurwitz as chief executive.

Tungsten has strengthened its board with new appointments.

Tungsten Corp (LON:TUNG) has announced a boardroom reshuffle aimed at bolstering the company’s team of independent directors.

Key among the changes is planned appointment of a new chairman.

Nick Parker, currently chairman of Tungsten Bank, will take over from Arnold Hoevenaars.

David Benello and Ian Wheeler, meanwhile, are being put forward as non-executive directors at the annual meeting later this month.

Benello is a former McKinsey man who is currently a non-exec of Telecom Italia, while Wheeler has 25 years industry experience, including 12 with payment processor Amadeus.

Finally, Lincoln Jopp, currently an executive director, is to retire after the AGM on September 24.

The changes follow July’s appointment of Rick Hurwitz as chief executive.

He told investors: "As we seek to upgrade many aspects of our business, the changes to our board of directors are representative of this transformation.

“Evident of our intent is the experience of our new non-executive directors.

“David and Ian bring substantial technology, financial services and network experience which will be invaluable to the company as it embarks on the next phase of its evolution."


Quick facts: Tungsten Corp PLC

Price: 40.6 GBX

Market: AIM
Market Cap: £51.19 m

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