Richard Elman says won’t take up directorship at new Noble; Deutsche Bank confirms bid to buy bonds

SINGAPORE (Aug 20): Richard Elman, the founder of Noble Group, will not take up the position as an executive director of the embattled commodities trader after its restructuring.

Elman’s decision not to take up the position as previously announced was due to personal reasons, said the company in a stock exchange filing on Monday, and comes days ahead of a crucial shareholder vote on its planned US$3.5 billion ($4.8 billion) restructuring.

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