Challenger has agreed to appoint two of the directors of Cindrigo Energy Limited, (Mustaq Patel and Lars Guldstrand) as directors of Challenger and accept the resignation of two of the existing four Challenger directors (George Lucan and Rupert Baring). Mr. Guldstrand has more than 35 years of executive and international investing experience in the energy, technology, telecom and media sector. Mr. Guldstrand has a Master of Business Administration from California Coast University. Mr. Patel has served as the group Managing Director since the inception of Cindrigo and has been the President since January 2018. He has a background in mergers and acquisitions for clients such as Hewlett Packard, Compaq, Ford Motor Company, Hutchinson Whampoa, Rank Organization, Airbus and the Royal Bank of Scotland. The new Chairman of Challenger will be Lars Guldstrand.