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LONDON - ICFG Limited (LON:ICFG) announced Wednesday that Chief Executive Officer Oliver Fox and Chief Financial Officer Benjamin Proffitt have resigned with immediate effect following the completion of the company’s reverse takeover transaction.
The company has appointed Enkhmaral Batkhuyag, currently Vice President of ICFG PTE Ltd, as interim CEO with immediate effect. The board intends to appoint her as an executive director subject to due diligence. Batkhuyag has over 14 years of experience in legal practice and investment banking, having joined InvesCore Capital LLC in 2018.
Tserennadmid Ganbaatar, currently CFO of SIBJ Capital LLC, a Mongolian subsidiary of ICFG, has been appointed as interim CFO. Ganbaatar previously held senior finance roles at Cummins (NYSE:CMI) Mongolia and PwC Audit LLC and was involved in the reverse takeover process.
Additionally, independent non-executive director Robert Shepherd has resigned but will remain in his role during a three-month notice period to ensure a smooth transition while the company searches for a replacement.
The board thanked Fox and Proffitt for their contributions to ICFG, particularly highlighting their roles in delivering the reverse takeover transaction.
ICFG stated that the process to appoint permanent CEO and CFO positions has commenced, with further announcements to be made in due course, according to the company’s press release.
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