Bumi board dispute nears resolution London-listed Bumi is expected to announce changes to the board and management that will see financier Nat Rothschild step down as co-chairman of the Indonesian coal miner he created in 2010. The changes, which were due to be approved at a board meeting on Monday, should mark the resolution of a dispute between Mr Rothschild and Bumi's Indonesian shareholders that has damaged the company's share price and raised concerns about corporate governance at the miner. The Bakries and Mr Tan initially wanted to oust Mr Rothschild from the board entirely, but later softened their position, agreeing to let him stay on as a non-executive director. Under the changes expected to be approved on Monday, Samin Tan, the Indonesian coal mining tycoon who became a shareholder in Bumi last October, is to become chairman, while Ari Hudaya will be replaced as chief executive by Nalin Rathod. Chief financial officer Andrew Beckham will be replaced by Scott Merrillees, and Indra Bakrie, previously chairman, becomes co-chairman. The changes will be formally unveiled on Tuesday along with Bumi's fourth-quarter and full-year results. Analysts said the restructuring made sense. "What's clear is that Samin Tan is running things now, and in that respect, what happens to Nat is a bit of a sideshow," said Richard Knights, a mining analyst at Liberum Capital. Mr Tan has already said he plans a major shake-up of the company. In an interview with the Financial Times earlier this month he said he intended to simplify its structure, including possibly merging some of his own assets with the UK-listed company. Bumi was created in November 2010 when Mr Rothschild reversed stakes in two Jakarta-listed companies, Bumi Resources and Berau Coal, into Vallar, a cash shell he had listed in London in July that year. Last October, the Bakries were forced to sell half their 48 per cent stake in Bumi to Mr Tan as they sought to refinance a $1.35bn Credit Suisse-syndicated loan. As a result of the deal, Mr Tan and the Bakries together own 30 per cent of Bumi's voting shares. Relations between Mr Rothschild and the Bakries subsequently soured after the financier criticised his partners" corporate governance in a letter leaked to the media. He accused Ari Hudaya of mismanaging PT Bumi Resources, Bumi's Jakarta affiliate, and called for a "radical cleaning up" of the company. Angered by the letter, Mr Tan and the Bakries called an extraordinary meeting to remove Mr Rothschild and some of his associates from the board. After mediation by the independent directors Lord Renwick and Sir Julian Horn-Smith, the EGM was cancelled and the reshuffle postponed until Monday's board meeting.