Bloomberg reported that PT Bumi Plc, the coal producer listed in London by Nathaniel Rothschild, said shareholder Borneo Bumi Energi & Metal Ltd called a meeting as it seeks to remove Rothschild and Chief Executive Officer Ari Hudaya.

The shareholder is also proposing to oust fellow founder James Campbell, a former Anglo American Plc executive, chief financial officer Mr Andrew Beckham and directors Mr Badung Tariono and Mr Amir Sambodo.

It wants to appoint Indra Bakrie and Samin Tan as chairmen. Tan is president director of PT Borneo Lumbung Energi & Metal, which bought a stake in Bumi last month. It wants Nalinkant Amratlal Rathod named CEO, Scott Merrillees CFO, and Jean-Marc Mizrahi, Alexander Ramlie, Michael Lucente and Graham Holdaway as directors.

Rothschild, currently a Bumi Plc co chairman, said last month he had mended relations with Bakrie, whose family are the equal-biggest shareholders with PT Borneo. Ties were frayed after Rothschild made public a letter to CEO Hudaya calling for a radical cleaning up of Bakrie’s PT Bumi Resources.

Billionaire Oleg Deripaska’s EN+ Group said that Rothschild had resigned from its board to concentrate on his principal investing activities including the two public companies that he founded: Bumi Plc and Genel Energy Plc, where he has significant ownership positions.

(Sourced from Bloomberg)