MP Evans announces several board and management changes

Palm oil producer MP Evans announced a number of changes to its board and senior management on Wednesday, in a bid to strengthen its leadership and ensure its continued success in the industry.

The AIM-traded firm said K Chandra Sekaran, currently the president director of its Indonesian management company PT Evans Indonesia, would retire from his role on 31 July.

Sekaran, who has been with the company since 2008, would transition from an executive to a non-executive director role from 1 August.

He would also take on a new advisory role, providing high-level advice to PT Evans Indonesia on a part-time basis.

Chief financial officer Luke Shaw would meanwhile join the board on 1 August.

Shaw, who joined MP Evans in July last year, had demonstrated “exceptional performance” in his role as CFO, the board said, while also noting that he previously held a senior finance position with Spectris.

Finally, Ravichandran Krisnapillay would be promoted to the position of president director of PT Evans from 1 August.

The company said Krisnapillay, a civil engineer by background, joined PT Evans in 2016 after working for Cargill and Goodhope Asia Holdings.

He had been serving as the group's director of operations for the last two years, and had an “excellent understanding” of all aspects of plantation management.

“I have much pleasure in announcing these board and senior management changes which are wholly in line with the group's succession plans,” said chairman Peter Hadsley-Chaplin.

“I am very confident of the ability of Chandra, Luke and Ravi to add further value to the group in their respective new roles.”

At 1130 BST, shares in MP Evans Group were down 1.53% at 774p.

Reporting by Josh White for Sharecast.com.