Bumi, the coal miner co-founded by financier Nat Rothschild, has lined up former BP executive John Manzoni to serve as its chairman once it has split from Indonesia's powerful Bakrie family.
Dependent on the timing of a split, the company hopes Manzoni will lead a board that revives Bumi's fortunes after a very public battle for control.
Bumi was founded when the Bakrie family placed its coal assets into a cash shell formed by Rothschild. But the two sides fell out amid accusations of financial irregularities – strongly denied by the family – and a whistleblower report, which the company alleged was based on hacked emails. Bumi declined to comment.
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