Richard Elman, the founder of Noble Group, has junked plans to become an executive director of the new firm that it hopes to be reborn as, just days before shareholders vote on its do-or-die $3.5 billion debt restructuring.
In a statement on Monday, Noble, once Asia's biggest commodity trader but hounded by accounting issues and unsustainable debts for the best part of the last three years, said Elman’s decision not to assume the role...