Noble Group founder to step down

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Richard Elman: leaving Noble Group

Hong Kong-based commodity trading firm Noble Group has announced that Richard Elman, its founder and executive chairman, will step down from his position within a year. Elman founded the company in 1986. Noble's board will establish a subcommittee to seek a successor following his departure, the company said in a June 3 statement.

The news came shortly after Noble said its chief executive officer (CEO), Yusuf Alireza, was resigning after four years at the firm. William Randall, Noble's Hong Kong