Golden West Resources CEO steps down

Some seven months after he was appointed to the helm of Golden West Resources, chief executive David Rose will step down as the company seeks to conserve cash.

Con Markopoulos will remain executive chairman and lead the company.

Mr Rose joined Golden West in August, when Portman was seeking to replace Mr Markopoulos and director Michael Wilson with its managing director Richard Mehan and Paul Piercy.

Both Mr Piercy and Mr Rose have previously worked at Rio Tinto.

"A change in global financial markets and concerns GWR has over the progress of infrastructure development in the Mid-West have forced the Board to reconsider its strategy, and to focus on a more cautious development path in order to preserve cash," Golden West said in a statement today.

"In these circumstances, Mr Rose has chosen to pursue other opportunities."