Half-year figures from Indonesian coal miner Bumi (BUMI) included a re-jigged management team - that has been put in place ahead of a deal to break links with Indonesia's controversial Bakrie family.
Industry veterans Paul Fenby and Keith Downham have been appointed as the new finance director and mining director, respectively. With the outlook for coal prices still challenging, that certainly reflects a focus on reducing operating costs. But, according to chief executive Nick von Schirnding, management changes also form part of an effective relaunch for Bumi designed to cut ties with the Bakries. That involves a multi-phase transaction whereby the Bakries sell their stake to Samin Tan, Bumi's chairman, while Bumi sells its share of another venture, Bumi Resources, to the Bakries - the deal is opposed by financier and Bumi co-founder, Nat Rothschild.