Noble CEO resigns as group gears up to divest American energy business

Alireza will leave due to family reasons.

Noble Group has announced the resignation of its CEO Yusuf Alireza and revealed that it will shortly be starting the sale process for Noble Americas Energy Solutions.

Alireza joined Noble Group four years ago and has steered the group through “some of the most difficult market conditions ever seen in commodities markets,” the group said in a statement.

“Alireza has helped guide Noble through a very challenging period, moving the company to an asset light, merchant focused model; he played a pivotal role in the successful sale of Noble Agri to a group of investors led by COFCO, and has also been instrumental in securing the recently announced re-financing, a crucial element in the process of giving the group a stable base from which to develop. With this transformation process now largely complete, Mr. Alireza considered that the time was right for him to move on,” Noble Group said.

Meanwhile, the sale of Noble Americas is expected to generate “both significant cash proceeds and profits to substantially enhance the balance sheet”.

“The Board expects to announce some further additional leadership appointments in due course as the business developments dictate,” Noble Group said.