Centaurus Energy Inc. announced that it has appointed David D. Tawil and Steven Azarbad to the board of directors of Centaurus. In addition, the Company has terminated the employment of Jose Peñafiel as President and Chief Executive Officer, the employment of Alejandro Peñafiel as Vice President, Growth and Capital and the employment of Ezequiel Martinez Ariet as Chief Financial Officer. The Board has appointed David D. Tawil as interim Chief Executive Officer.

Mr. Tawil is a co-founder of Maglan Capital, an event-driven fund, and has served as President since its founding in 2009. Prior to founding Maglan Capital, Mr. Tawil was an investment banker with Credit Suisse, where he served as Director of Leveraged Finance. Before joining Credit Suisse, Mr. Tawil was an attorney with Davis Polk & Wardwell, specializing in corporate restructuring.

Steven Azarbad is a Co-Founder of Maglan Capital and has served as Chief Investment Officer since its founding in 2009. Prior to founding Maglan Capital, he was an investment banker with Credit Suisse, where he served as Director of Leveraged Finance. Before joining Credit Suisse, Mr. Azarbad was an attorney with Weil, Gotshal & Manges, specializing in bankruptcy and restructuring.

Before joining Weil, Gotshal & Manges, he clerked for The Honorable Mary F. Walrath, in the United States Bankruptcy Court for the District of Delaware.