In its decision to shift its focus to trade and structure finance, global supply chain firm MFC Industrial is making board changes to reflect the company's new direction.
The supply chain firm, which has operations in countries including Hong Kong and China, said that Peter Kellogg and William Horn are stepping down as directors of the company to make way for new officials with experience in trade finance.
“In connection with its new focus, the company is conducting a search for candidates with experience and expertise with export credit agencies, trade finance and banking, particularly in Europe, in order to enhance its board,” says MFC in a statement.
Peter Kellogg comments: "I am very supportive of the company's focus on trade finance and banking and believe it represents an attractive opportunity. With this new direction, particularly the focus on Europe, I believe this is an opportune time for a change. The company said the change was also in line with a plan to acquire a Western European bank. MFC did not give details.
MFC is active in a broad spectrum of activities including sourcing a wide range of products, trade finance and logistics and risk management services for producers and consumers around the world. Apart from Hong Kong and China, the company has operations in Austria and Canada.
