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LONDON - Contango Holdings PLC (LSE:CGO) announced Tuesday the appointment of Daniel Dos Santos as its new Chief Executive Officer, replacing Carl Esprey who has resigned from the role.
Dos Santos, 41, a Zimbabwean dual national, founded commodity brokerage Discovery (NASDAQ:WBD) Resources in 2013 and Zimbabwe-based intermediary ZW Investments in 2015. He has been involved with Contango’s Muchesu coal project since June 2024, when he was appointed as a director of Monaf Investments, the project’s in-country operating company.
In his new role, Dos Santos will receive an annual salary of £36,000, according to the company statement.
Esprey will remain as an Executive Director for six months to manage the transition, receiving an annual salary of £18,000 during this period.
The leadership change comes as Contango continues to develop its relationship with Huo Investments regarding the Muchesu coal project in Zimbabwe, which contains over 2 billion tonnes of coal. The company expects to finalize definitive agreements with Huo Investments "in the near term."
Gordon Thompson, Contango’s Chairman, said Esprey "leaves the Company on a stable financial footing as it looks to the future as a royalty company." Thompson added that Contango will "continue to benefit from its minority interest in the expanding Muchesu project, as well as the repayment of historic investment of circa US$20,000,000."
The information was disclosed in a regulatory announcement based on a company press release statement.
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