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The decision to close the Sydney office is necessary in order to reduce the overheads of operating two offices and for more efficient communication, White Energy CEO Brian Flannery said in a statement.
“The management of the company has for the past five years been divided between Sydney and Brisbane, with a large part of the company’s activities being conducted in the US and South Africa,” he said.
“As a result of the decision, some staff will relocate to the Brisbane office or to the Cessnock demonstration plant in the Hunter Valley. Some staff will not take up the offer of employment in Brisbane.”
The company’s chief financial officer, Ivan Maras, has resigned from his position.
Maras, who joined White Energy in 2006, will leave the company at the end of March 2016. In the meantime, he will ensure a transition of his responsibilities including completion of the interim financial accounts.
He will also continue to make himself available to assist with any matters relating to the KSC legal dispute following his departure from the company.
