18/02/2014 - 12:29

Voelte resigns as Nexus chairman

18/02/2014 - 12:29

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Seven Group Holdings chief executive Don Voelte has stepped down from his role as chairman of oil and gas junior Nexus Energy, saying the position was no longer appropriate as Seven Group eyes opportunities in the oil and gas sector.

Voelte resigns as Nexus chairman
Seven Group Holdings chief executive Don Voelte.

Seven Group Holdings chief executive Don Voelte has stepped down from his role as chairman of oil and gas junior Nexus Energy, saying the position was no longer appropriate as Seven Group eyes opportunities in the oil and gas sector.

The former Woodside Petroleum chief executive joined Seven Group in July last year.

Seven Group, which owns mining equipment supplier WesTrac and is a major shareholder in Seven West Media, has flagged that it will consider expanding into the energy, agribusiness and water industries under Mr Voelte's leadership.

The company last year appointed former federal resources minister Martin Ferguson to the newly-created role of group executive of natural resources.

Nexus entered a trading halt this morning, with its shares last trading at 7.7 cents.

It said it planned to update the market on its strategic review process, which has focused on its stake in the Crux gas project off the Kimberley coast.

 

 

 

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