Noble Group has appointed co-CEOs to take over the reigns of the company from Yusuf Alireza, who has resigned after a difficult four years in the hot seat at the Hong Kong-based commodities giant citing “family reasons.”
William Randall and Jeff Frase have been announced as co chief executive officers. Randall is based in Hong Kong currently in the role of president, while Frase steps up from his position of president of Noble Americas and Head of Oil Liquids based in Stamford, Connecticut.
Noble chairman Richard Elman commented: “I am delighted that Will and Jeff will be leading Noble Group’s operations as we embark on the Company’s next chapter. Their complementary commodities expertise and geographical focus will be hugely valuable as we position ourselves for the future.”
Noble Group also announced that it is starting the sale process for Noble Americas Energy Solutions, which it said will generate significant cash proceeds and profits to substantially enhance its balance sheet.