Business
Management change
Management change.
About this update from Genel Energy Plc
[{"type":"text","content":"\n \n\n\nGenel Energy PLC (GENL)\n\n\n\nGenel Energy PLC: Management change10-Jun-2022 / 07:00 GMT/BSTDissemination of a Regulatory Announcement, transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.\n\n\n \n\n10 June 2022\n\n \n\nGenel Energy plc\n\n \n\nManagement change\n\n \n\nGenel Energy plc ('Genel' or ‘the Company’) announces that after discussions with the Board following the recent AGM, at which Bill Higgs did not receive the required 50% majority of votes in favour of re-election as a Director, he has agreed to step down as CEO of the Company with immediate effect.\n\n \n\nDr Higgs will take up a role as Special Advisor to the Chairman until 1 September 2022, to support an orderly transition, after which he will remain as a consultant to the Company.\n\n \n\nPaul Weir, COO, has been appointed as Interim CEO with immediate effect. A search for a suitable replacement is now ongoing and an announcement will be made in due course.\n\n \n\nPaul joined Genel in January 2020, having worked for more than 30 years in upstream E&P with experience in the North Sea, South East Asia and Africa. Before joining Genel, Paul was Group Head of Operations and Safety at Tullow Oil, having previously spent 13 years at Talisman as VP Production and Exploration, and also worked in a variety of roles at Nippon Oil, Elf, Occidental, and Total.\n\n \n\nDavid McManus, Chair, said:\n\n“Bill worked tirelessly at Genel and oversaw a positive change in the strategic direction, operational capability, and culture of the Company. He steps down as CEO with Genel well positioned to utilise our robust balance sheet and material cash generation to fund growth and underpin our material and progressive dividend for the long-term. \n\n \n\nPaul has been a key contributor to the transition of Genel into an operator with interests in more producing assets than any other IOC in Kurdistan, and, given his longstanding operational experience with a range of world class companies, is perfectly placed to lead the team as it seeks to progress its next phase of growth.” \n\n \n\n-ends-\n\n \n\nFor further information, please contact: \n\n \n\n\n Genel Energy\n\n Andrew Benbow, Head of Communications\n \n \n +44 20 7659 5100\n \n \n \n \n \n \n \n \n V...