Picture: 123RF/ SCANRAIL
Picture: 123RF/ SCANRAIL

Montauk Energy, which collects gas and produces electricity at US landfill sites, says financial director Sean McClain will replace current CEO Martin Ryan at the beginning of October.

McClain has served as financial director of the company since 2014, and has more than 20 years of business and financial management experience, including in private equity placements, debt restructuring and acquisitions, Montauk said on Wednesday.

Kevin van Asdalan will replace McClain as financial director, the company said. Van Asdalan has 20 years of business and financial management experience, and before joining Montauk in 2018 had held various positions, including with LB Foster and PwC.

Johnny Copelyn, CEO of Hosken Consolidated Investments (HCI), is the nonexecutive chair and major shareholder in Montauk.

Montauk’s share price has been under pressure in 2019, having fallen 66.86% in the year to date.

At 10.10am it was 5.32% lower at R26.51.

gernetzkyk@businesslive.co.za