Greenergy announces appointment of new Chief Financial Officer

12th January 2015

Greenergy has announced that Tirath Magdani, currently Chief Executive of Greenergy Asia, will take over as Chief Financial Officer effective summer 2016, when he completes his current assignment in Dubai. He joined Greenergy in 2009 from a major oil company, is a qualified chartered accountant and as Greenergy Group Treasurer led the restructuring of a $1 billion working capital facility.

Tirath replaces Jitesh Sodha who has been CFO for the past seven years, during which time the company has seen significant growth. Jitesh has decided to leave the company to pursue other opportunities at the end of the company's current financial year on 14 April 2015 but will remain in an advisory capacity until the closure of this year's annual accounts.

Stephen McCaffrey will take over the role of Interim Chief Financial Officer for the financial year 2015/16. A chartered accountant, Stephen became Chief Financial Officer of Greenergy Biofuels Ltd in 2005 and subsequently took on numerous business development and operational roles in Greenergy including acquisition and capital raising. Stephen will work in tandem with Jitesh from February 2015 to ensure a seamless transition.