Mr Parry, who advised the Board in mid June of his intention to retire, has worked for Centennial for 24 years, including two years as chief financial officer to the Company's parent, Banpu pcl, in Thailand before returning to Australia as Deputy CEO in early 2017.

Recently, Mr Parry stepped into the position of Managing Director and Acting CEO.

Mr Parry, who has been MD/Acting CEO since the end of January 2020, commented that it has been his intention for some time to retire in the second half of 2020.

"I have had 24 wonderful years with Centennial, including 10 years under Banpu's ownership of Centennial and have had some amazing experiences over that time.

"It has been an honour to serve both Centennial and Banpu and I wish both companies well for the future," he said.

Banpu and Centennial have announced the appointment of Craig Gillard as Managing Director and CEO, with immediate effect.

"Our industry is in a period of exceptional change and we need to prepare Centennial for all the opportunities and challenges ahead.

"I am excited and humbled by this incredible opportunity and look forward to the challenge of reshaping, refining and evolving Centennial for the future," he said.

Mr Gillard has been an executive of Centennial since joining the Company via the Powercoal acquisition in 2002, and most recently held the position of Executive General Manager Human Resources.

This month also sees changes on the Centennial Board, with the Chairman and Non-Executive Director, Bruce Allan stepping down to focus on family matters, while fellow Director, Philip Gasteen will step down at the end of the July 2020.

In addition to Mr Gillard becoming a Director of the Company, Tanarat Chaisiri has also been appointed as a Director.

Tanarat is an experienced Certified Practising Accountant (CPA), having spent 14 years with PwC Thailand.

He has been involved with Centennial for many years, and importantly has, over the past few years, played the key role of liaison between Centennial and its parent company.

Banpu and Centennial believe that these changes will strengthen local management and assist with meeting the immediate challenges of the business.

Banpu Chairman and founder, Khun Chanin Vongkusolkit, paid tribute to Messrs Allan, Gasteen and Parry for their loyalty and contribution to the company over many years and the leadership displayed to both Centennial and Banpu.