Roach is currently Stanmore’s financial controller and joint company secretary.

He brings 10 years of experience in accounting, finance and mergers and acquisitions to the role, managing director Nick Jors said.

“The board and I would like to thank Doug for his contribution to Stanmore’s growth over the past three years,” he said.

“Doug has been a hardworking and very effective CFO over a difficult period in the coal market and he leaves the company in very good financial shape.

“I also congratulate Andrew on his promotion; he is a very able replacement. The new arrangements are appropriate for the stage of development of Stanmore Coal and will result in a material net saving to company overheads.”

Before joining Stanmore Coal in 2012, Roach worked for PricewaterhouseCoopers within the corporate finance and financial assurance divisions.

He holds a bachelor degree in economics and commerce as well as a graduate diploma in applied finance.

Roach will be supported by Duncan Cornish, the company’s founding CFO who has been reappointed as part-time joint company secretary.