LONDON (Reuters) - Bumi Plc’s chief executive Nick von Schirnding said at a speech at the coal miner’s general meeting that the board was committed to stop shareholder infighting and reviving the company’s share price.
The CEO was talking on Thursday ahead of a vote on co-founder Nat Rothschild’s overhaul plan and bid to oust the current board of Bumi.
Rothschild set up Bumi with Indonesia’s politically connected Bakrie family. But the partnership, intended to bring promising Indonesian assets to London investors, soured within months, and the two sides have been locked in a bitter battle since, with the company’s shares down 60 percent since it listed in 2011.
Reporting by Clara Ferreira-Marques, Writing by Rosalba O'Brien