Tuesday, July 24th, 2007
Western Canadian Coal Corp. announces the following:
The Board of Directors announces that Mr. Fausto Taddei is immediately stepping down as Chief Financial Officer and has left the Company effective as of July 20, 2007. The Board would like to thank Mr. Taddei for all of his efforts as he has been very instrumental in and worked tirelessly in the growth and development of the Company.
The Board is also pleased to announce the following appointment, namely that Mr. William (Bill) Caughill, C.A., has accepted the position of Director, Accounting for the Company and will be responsible for internal controls and procedures as well as management accounting functions. In addition, Mr. Jeff Redmond, C.A., Director, Finance for the Company will assume responsibility for all corporate finance and public reporting functions, including disclosure controls and procedures.
Mr. John Hogg, Chief Executive of Western stated that, “while the Company is very sorry to see Mr. Taddei leave after all of the effort he has put into making a success of the Company, we are very fortunate to be able to announce the appointment of Mr. Caughill and the assumption of additional duties by Mr. Redmond. These appointments will allow the Company to focus added attention to its increasing cost and financial reporting obligations as the Company moves forward.”
At the time of his appointment Mr. Caughill was acting as a consultant to the Company providing assistance in the development of the Company’s cost reporting functions. Mr. Caughill has been a chartered accountant for approximately 30 years and has extensive experience in the operations side of the mining industry and as a senior financial manager in the resource industry sector focusing on corporate finance, implementation of internal controls, reducing costs and increasing efficiencies. Mr. Redmond, was appointed to the position of Director, Finance in February 2007 after serving as Controller since coming to the Company in November 2004. Mr. Redmond’s duties included responsibility for financial accounting and reporting, cost accounting and budgeting, tax and treasury related work, coordination of the Company’s equipment leasing and introduction of ERP-systems.