Synthesis Energy (SYMX) CEO and CFO to Leave Company
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Synthesis Energy Systems, Inc. (Nasdaq: SYMX) announced today that as a result of a tighter focus on operations and project implementation in China's rapidly growing coal-to-chemicals and coal-to-natural gas markets, plus the need to significantly reduce corporate overhead and overall costs, CEO Tim Vail and CFO David Eichinger will be leaving the Company, effective March 31, 2009 based on a mutual decision with the Company's Board of Directors. Mr. Vail will remain on the Company's Board of Directors.
In connection with these management changes, the Company promoted Robert Rigdon, currently COO, as the Company's President and CEO, effective March 31, 2009.
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First RIGHT ACTION by a board
Eddy Lahens on Apr 1, 2009 02:30 PMBoth the CEO and CFO are to be congratulated and the Board be given an award 1) for taking an action which directly execute on the already stated corporate goal to cit cost and 2) acknowledging focus on executing the business at hand and 3) giving up on chasing the U.S. CTL market when it is a long reach for now. This company will go far by knitting to their cocoon which is big enough in China.