Business
Appointment of Executive Chairman
Appointment of Executive Chairman.
About this update from Pantheon Resources Plc
[{"type":"text","content":"\n\n\n\n \n \n8 June 2023\n \nPantheon Resources plc\nAppointment of Executive Chairman\n \nPantheon Resources plc (\"Pantheon\" or \"the Company\"), the AIM-quoted oil and gas company with a 100% working interest in all of its oil projects spanning c. 193,000 acres adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope (\"ANS\"), announces that Phillip Gobe has informed the Company of his intention to retire and the Board has elected David Hobbs as Chairman, with the intention for him to become Executive Chairman upon execution of an employment agreement.\n \nPhillip joined the Board in 2016 and became Chairman in October 2017. Since that time, he has overseen the transformation of the Company from a non-operating working interest owner in Texas to become an operating company with 100% working interest in what the Company estimates to be over 2 billion barrels of contingent resources on the North Slope of Alaska.\n\nDavid joined Pantheon's Board in March 2023 with the goal of helping to sharpen the Company's strategic focus and improve communication with investors. As Executive Chairman, he will work with the existing management team to broaden the recognition of the value of the Company's assets and to build on the operational, financial and commercial capabilities of the organisation.\n \nThe Company will provide an update on the overall strategic plan and activities to deliver it at the webinar, previously announced, which will be held on 28th June 2023.\n \nThe Company recognises that as a consequence of these board changes, additional independent non-executive appointments will be required and the Company has already initiated a process in this regard.\n \nJay Cheatham, CEO of Pantheon Resources, said: \"I'm excited to welcome David as Executive Chairman of Pantheon. As we move forward into a new phase for Pantheon, David brings a wealth of knowledge and experience that is extremely desirable. We will now work together to develop the framework of complimentary roles for David as Executive Chairman and myself as CEO.\n \n\"I am sad to see Phillip step aside. I will miss Phillip's wise counsel on so many fronts, especially his calmness and experience. Phillip first joined Pantheon as a Non-Executive Director and then succeeded John Walmsley as Ch...