GCM Resources PLC on Friday announced the resignation of Non-Executive Chair Mohd Najib Bin Abdul Aziz after four years in the role.

The resource exploration and development company focused on the Phulbari coal and power project in north-west Bangladesh said Aziz was stepping down for ‘personal reasons’.

His resignation will officially take effect on October 11, with Non-Executive Director Christian Taylor-Wilkinson taking over as interim non-executive chair until a replacement is found, GCM said.

The firm said it is also currently in the process of recruiting new NEDs.

Chief Executive Officer Datuk Michael Tang PJN said: ‘I would like to thank Najib for his valuable contribution to the GCM Board during his term of office and wish him well in his future endeavours.’

On Friday, GCM also announced it is continuing to promote its planned coal mining and power project in Bangladesh, in partnership with the Bangladeshi government. ‘The project will deliver the government and people of Bangladesh a step-jump in their economy, which is dealing with the very considerable financial burden of rampant energy costs,’ the company commented.

Shares in GCM were up 4.2% at 1.98 pence each in London on Friday morning.

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