Drilling company Coretrack has sacked its CEO Nanne van’t Riet.
The company released stating “that his services are no longer required on a day to day basis, and therefore van’t Riet will relinquish control of the company, effective immediately”.
Coretrack chairman Matt Birney explained that “as we are now moving out of the R&D phase and into the commercialisation phase it is the Board’s view that the company would benefit from a fresh start sooner rather than later at a senior management level”.
Despite removing van’t Riet from the position, his contract with the company does not expire until February next year; as such Coretrack say they are obliged to continue to pay his salary.
However, Coretrack “have already conducted a number of interviews for the position of CEO and we have been very impressed with the quality of candidates,” Birney said.
“We expect to be in a position to announce the engagement of a new CEO soon.”
Current general manager – globe drill, Neil Hass, has been appointed acting CEO until a new one is appointed.
van’t Riet announced that he would not seek to extend his term as CEO at Coretrack in May.