Fe Limited announced that the board has entered into a managing director agreement (Agreement) with Mr. Paul Carroll. The agreement is conditional on FEL completing the acquisition of 100% of Cardinal House Group Pty Ltd. (Cardinal) in accordance with the Share Sale Agreement (SSA) executed on November 12, 2015 (Acquisition). Mr. Paul Carroll will replace Mr. Mark Gwynne, who will retire from his executive role but remain on the board of the company as a non-executive director, at completion of the Acquisition.

Paul Carroll has over 22 years of success with B2B and B2C business management, specialising in corporate governance and operational enhancement. Paul Carroll has held senior leadership positions with a number of tier-one organizations operating throughout the world including Europe (specifically the United Kingdom), the Caribbean, various South Atlantic Regions and for the past four years in Australia.