Prophecy Coal Corp. (TSX:PCY,OTCQX:PRPCF,FWB:1P2) appointed Mr. John Lee as the new Executive Chairman of the Board of Directors of the Company. Mr. Lee transitioned into this role from his role as Chief Executive Officer as the Board has decided that the Company has reached a stage in development that requires Mr. Lee to focus on negotiating the major government and joint venture agreements for advancing the Chandgana power plant project in Mongolia.
As quoted in the press release:
To complement Mr. Lee in his role as Executive Chairman of the Board, the Company has initiated a search for a new CEO to carry out day-to-day management responsibilities as the Company transitions into a true developer of coal powered electrical generation. Mr. Lee will serve as Interim CEO until a new candidate has been identified and appointed.