Wednesday, March 13, 2013

Australia:

Panax Geothermal Ltd CEO Resigns (4-traders - News Release)

The Board of Directors of Panax Geothermal Limited today announced the resignation of Kerry Parker as Managing Director and Chief Executive Officer.

Kerry Parker will leave the full time employment of Panax with effect from 30 April 2013. To ensure a smooth transition for Panax, Mr Parker will remain on the board of Panax as a Non-Executive Director until 30 August 2013.

Commenting today, Panax Chairman Athan Lekkas sincerely thanked Kerry for his contribution to Panax and to the geothermal sector both in Australia and internationally. The Board expressed its appreciation for Kerry's contribution in shaping and advancing Panax's position as an Australasian geothermal exploration and development company.

Kerry Parker commenced with Panax in 2007, and has been instrumental in assembling and managing Panax's portfolio of advanced geothermal development opportunities in Indonesia.