Ophir Energy Plc Restructuring of Board and Committee Membership (1440N)
27 Januar 2016 - 11:08AM
UK Regulatory
TIDMOPHR
RNS Number : 1440N
Ophir Energy Plc
27 January 2016
27 January 2016
Ophir Energy plc
("Ophir")
Restructuring of Board and Committee Membership
In accordance with Rule 9.6.11(3) of the Listing Rules, the
Board of Directors of the Company announces the following changes
to the membership of the Board and its committees.
Non-Executive Changes
With effect from the 30(th) April 2016, Nicholas (Nic) Smith
will be retiring as a Director after nine years on Ophir's Board,
the past seven of which he served as Chairman.
Following a comprehensive search process, which included the
evaluation of both external and internal candidates, William (Bill)
Schrader has been chosen to succeed Nic as Chairman with effect
from 30(th) April 2016. Bill has over 30 years' experience working
at BP plc, including as Chief Executive of several country
operations, as President of the Azerbaijan International Operating
Company and as Chief Operating Officer of TNK-BP. Bill joined the
Ophir Board as a Non-Executive Director in February 2013. Bill
Schrader also serves as a Non-Executive Director for the Hess
Corporation, CHC Group Limited and Bahamas Petroleum Company plc.
Bill holds a BSc in Chemical Engineering from the University of
Cincinnati and an MBA from the University of Houston.
Bill will join the Nominations Committee with immediate effect
and will assume the position of Chairman of the Nominations
Committee as of 30 April 2016. At that time Bill will step down
from the Audit Committee and will resign as the Chairman of the
Corporate Responsibility Committee but will continue as a member of
this committee. Dr Carol Bell will replace Bill as Chairman of the
Corporate Responsibility Committee, again also with effect from the
30(th) of April 2016
Ronald (Ron) Blakely has notified the Board of his intention not
to stand for re-election as a Non-Executive Director of Ophir at
the 2017 Annual General Meeting. Ron will consequently be stepping
down from his roles as Senior Independent Director, as Chairman of
the Audit Committee, and will retire as a Director, all in the
first quarter of 2017.
The Board has been aware of Nic and Ron's intentions for some
time and therefore has a succession plan in place. A process to
recruit two new Non-Executive directors to replace Nic and Ron has
commenced and is expected to be concluded during 2016. It is
anticipated that one of the new appointees will become Chairman of
the Audit Committee.
Executive Appointment
Following a review of the Board, the Board has decided that the
role of Chief Financial Officer will be elevated to that of an
Executive Director. Consequently, Anthony (Tony) Rouse, Ophir's
Chief Financial Officer, will become an Executive Director with
immediate effect. Tony joined Ophir in October 2014, and has over
30 years' experience in the Upstream Oil and Gas industry including
13 years of assignments in Europe, Africa, Asia and South America.
Tony started his career with BP, before moving to LASMO plc,
Premier Oil and most recently Salamander Energy where he was Group
Financial Controller for 9 years. Tony is a Fellow of the Chartered
Certified Accountants.
The Company confirms there is no information to disclose
pursuant to paragraph 9.6.13R of the Listing Rules
Ron Blakely, Senior Independent Non-Executive Director
commented:
"On behalf of the Board and Management I would like to thank Nic
for his highly valuable contribution to overseeing the transition
of Ophir from a private company to a well-established London -
listed company. It has been a pleasure to work alongside him and we
wish him well in his future endeavours.
"I would also like to extend our congratulations to Bill on his
appointment as Chairman. Bill was the outstanding candidate for the
role of Chairman, combining over 30 years of industry experience
with three years on the Board of Ophir. He has been an excellent
Board member and I have no doubt will prove to be an outstanding
Chairman.
"Finally, having completed a Board review and determined that
the role of Chief Financial Officer should be an Executive
position, I am delighted to welcome Tony to the Board. Tony's
extensive experience in the oil and gas industry will be a valuable
addition going forward".
FOR FURTHER INFORMATION PLEASE CONTACT:
Ophir Energy plc +44 (0)20 7811 2400
Geoff Callow, Head of Investor Relations
This information is provided by RNS
The company news service from the London Stock Exchange
END
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