Montauk Holdings Limited announced that Mr. David Herrman has resigned from his position as Chief Executive Officer (CEO) and executive director of the company as of the 10 June 2016. Mr. Herrman has indicated that he pursue new opportunities outside of the company, following which the Board of Directors of the Company accepted his resignation. Mr. Martin Ryan has been appointed by the Board as Chief Executive Officer and executive director with immediate effect.

Mr. Herrman has made himself available to assist with the transition of responsibilities to Mr. Ryan. Mr. Ryan joined the Company as Vice President and General Counsel in 2007 and has held that position since.