Xinergy Ltd. today announced the appointment of Michael R. Castle to the position of Chief Financial Officer.
With the addition of Mike to our Executive Team, we are now poised to execute Xinergy's growth and strategic plans. His expertise in the areas of coordinating and structuring financing, corporate accounting, financial planning and knowledge of the coal industry solidifies a strong foundation for our future growth, said Jon E. Nix, Chief Executive Officer. We are very pleased to have him on board.
Mr. Castle joins Xinergy Ltd. with over 18 years experience in the coal industry, over ten of which serving as a Chief Financial Officer. Most recently employed by National Coal Corporation, Mr. Castle's background includes developing and coordinating strategic business and financial planning, budgeting, corporate financing, SEC reporting, GAAP and Sarbanes Oxley compliance. He also brings a strong knowledge of coal operations, which will be key in cost accounting, budget management and the growth of Xinergy.
Mr. Castle will be responsible for all financial aspects of Xinergy Ltd. and its principal operating entity, including corporate financing, TSX reporting, acquisition due diligence and investment banking. He will be the point of contact for outside auditors, business press, investment bankers and the financial analyst community. Reporting to directly to CEO, Jon E. Nix, he will be a key contributor to Xinergy's Executive Committee.
Mr. Castle holds a B.S. in Accounting from the University of Kentucky and is a Certified Public Accountant licensed in the state of Kentucky. He is an active member of the Kentucky Society of CPAs and American Institute of CPAs.
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Debra Powers, acting interim Chief Financial Officer since January 2009, will continue her role as Vice President of Finance, and Corporate Treasure & Controller.