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Yaqara Group Limited (YGL) executive chairman Mark Falzon has resigned effective immediately.
Falzon has cited personal reasons for his resignation.
However, he will remain as a director of the company for the next five weeks to enable an emergency general meeting to be called at which it is intended to present a go forward and financing plan to members for their consideration.
Yaqara Group Ltd managing director Lyndon Driscoll said Falzon joined as a director of YGL in 2004 and was instrumental in introducing around $3 million of investment into the company and Fiji as a whole.
He said as company executive chairman over the past three years, Falzon had provided significant personal and professional support and leadership to the company through difficult circumstances.
“During this period, he travelled extensively internationally at his own expense promoting the vision of Yaqara and Fiji to source further development capital and interest,” Driscoll said.
“In addition, he, together with his business partner Maurice Goldberg, has provided direct and critical operational financial support to the company,” he said.
Driscoll conveyed Falzon’s appreciation to members and stakeholders that had provided support to YGL.
“The company also expresses it sincere appreciation to Mr Falzon for his chairmanship, commitment and contribution and wishes him well for the future,” he said.
At present, Driscoll said the board had not appointed a replacement chairman and would advise the market accordingly of such appointment.
