Business
CEO Appointment and Board Cha
CEO Appointment and Board Cha.
About this update from Talisman Metals Plc
[{"type":"text","content":"\n RNS Number : 4586D Ovoca Gold PLC 02 December 2009 \nOvoca Gold plc (\"Ovoca\" or the \"Company\")\nCEO Appointment and Board Changes \n\nOvoca is pleased to announce that Tim McCutcheon has been named CEO effective immediately. Tim has been a director of Ovoca since January 2009. Mikhail Mogutov, will step down as CEO and become Executive Chairman, while the current Chairman Leonid Skoptsov will retain his position on the Board as a non-executive director. \n\nTim has lived and worked in Russia and the Commonwealth of Independent States since 1994. Prior to working in Ovoca, Tim worked in multiple financial institutions such as Bear Stearns, Aton Capital and Pioneer Investments as an award-winning metals and mining sector analyst and as an investment banker. Tim was one of the first analysts in Russia to write about its gold mining sector and he has advised numerous international gold mining companies on M&A, business development, and Russian business practices. \n\nTim has a BA and MBA from Columbia University, New York, USA. He lives in Moscow, Russia and speaks fluent Russian.\n\nMr. McCutcheon commented \"Given the recent surge in the gold price and increasing interest in the gold mining sector from investors globally, I believe now is a particularly fortuitous time to lead a gold mining company. It is clear that investors have been patient with the Company as it has re-grouped after the sale of Goltsovoye. I intend to reward shareholders for their patience by focusing on long term, sustainable shareholder value. I look forward to advancing Ovoca and putting its human and capital resources to work.\"\n\nMr. Mogutov comments \"I am pleased that we were able to attract someone of Tim's calibre to lead Ovoca. Tim is set to quickly form a wider management team, look to acquire new assets and to vigorously advance the company. It has been almost a year since Ovoca sold its core asset Goltsovoye. The Company has cash and technical expertise, and with Tim's appointment we now have a leader to tie everything together to make a vibrant, successful company.\n\nI will tak...