Trading firm Noble Group announced the resignation of its chief executive officer and said it will sell San Diego-based Noble Americas Energy Solutions LLC.
Noble Americas Energy Solutions LLC, formerly known as Sempra Energy Solutions, is part of a joint venture between Sempra Energy and The Royal Bank of Scotland, according to the company’s LinkedIn page.
The announcement of the sale comes after the resignation of Yusuf Alireza, the chief executive officer. He is being replaced by two senior executives, William Randall and Jeff Frase.
“The Board wishes to announce that it will shortly be starting the sale process for Noble Americas Energy Solutions, a transaction which is expected to generate both significant cash proceeds and profits to substantially enhance the balance sheet,” according to a company news release. “This is in addition to a fund-raising initiative previously announced. Full details will be released in the near future.”