Paul Brough, formerly independent non-executive director, replaced the Noble Group’s founder Richard Elman as chairman on May 11.
Brough worked at KPMG between 1983 and 2012, ending his tenure as a senior partner in the Hong Kong office. Last year he said he had planned to retire.
In a letter to shareholders, Elman – who becomes a non-executive board member – said regaining profitability would be “a long, hard slog”, and would not be achieved until the fiscal year 2018–19.
“The revitalised, n