Mr. Martin Hurley Appointed as CEO and President
Tuesday November 13, 9:12 am ET
KAL Energy, Inc is pleased to announce the appointment of Martin Hurley as the company's Chief Executive Officer and its President, effective immediately.
"We are pleased to announce Mr. Hurley's appointment and would also like to take this opportunity to thank Cameron Reynolds for his contributions and leadership throughout the foundation period of the company." stated Laith Reynolds, KAL Energy's Chairman. Mr. Cameron Reynolds leaves his posts on excellent terms and remains as a consultant to KAL Energy.
Commenting on his appointment Mr. Hurley stated "I am delighted to be offered this opportunity. The company has tremendous prospects, and is in a great position to capitalize on the very strong fundamentals of the Asian coal market. Having served on the KAL Board over the past six months, working very closely with Cameron Reynolds and the KAL management team, I am confident we can push forward on our growth plans without any loss of momentum. I look forward to serving the board in delivering value for our investors." stated Mr. Hurley, CEO of KAL Energy.
Mr. Cameron Reynolds added "I have enjoyed my time at the helm of the company and working with the board, its management and our investors. I have complete confidence in Mr. Hurley's leadership and his extensive experience in financial markets, and in KAL Energy's future growth prospects. I look forward to the company moving into its development phase and capitalizing on the wealth of resources available on the coal concessions, as well as substantially increasing shareholder value."
Mr. Hurley has over 17 years experience of the world's major international stock and financial markets. He has worked at Director and Vice President level at a number of international investment banks including Morgan Stanley, CSFB (BZW) and ABNAmro. Most recently he spent 7 years as a senior Pan-European equities executive in the Institutional Equity Division of Morgan Stanley in London. There he was responsible for investment advice, client relationship and business development of some of Morgan Stanley's largest European asset management and hedge fund clients. Mr. Hurley's portfolio management experience includes having run US$2.5 billion of equity portfolios for British Airways Pension Fund. He is used to interacting with corporates at the highest level and at the other extreme running successful small businesses. He holds a BA(Hons) degree in Economics from the City Business School in London.
Notice Regarding Forward-Looking Statements
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