Business
Appointment of Independent Non-Executive Chair
Tullow Oil plc has appointed Roald Goethe as its independent non-executive Chair, effective December 1, 2025, replacing Phuthuma Nhleko who is stepping down to pursue other interests. This leadership change is accompanied by the immediate departure of three other independent non-executive directors, Genevieve Sangudi, Martin Greenslade, and Mitchell Ingram, with the company planning to replace key positions while aiming for a smaller, focused board. This reduction in board size is expected to further decrease Tullow's cost base. Roald Goethe, a long-term supporter holding 28,259,396 shares and approximately $400,000 in 2026 Senior Notes, expressed confidence in the team's ability to implement strategy and advance plans for refinancing the company's capital structure. Disclaimer*
About this update from Tullow Oil Plc
[{"type":"text","content":"\n\nTullow Oil plc\nAppointment of Independent Non-Executive Chair and Board reset\n1 December 2025 - Tullow Oil plc (Tullow) today announces the appointment of Roald Goethe as independent non-executive Chair of the Board, with effect from 1 December 2025.\nRoald is a highly experienced oil and gas executive with extensive commercial knowledge of the energy industry in Africa including business development, M&A, and in oil markets, specifically financing, hedging, and trading. In 1994, he joined Trafigura Group as an executive where he had an integral role in the development of the group's oil trading activities, primarily in West Africa. In 2006, he founded his own company, Delaney Petroleum Ltd, trading crude oil and petroleum products predominantly in West Africa and the Middle East. He then returned for a three-year term with Trafigura Group in Geneva and remained an advisor at the company until the end of 2021.\nRoald has served on the Board of Tullow as an independent non-executive Director since February 2023, where he has also been a member of the Audit and Remuneration committees. He is a long-term supporter of Tullow, holding 28,259,396 shares and c.$400,000 2026 Senior Notes.\nRoald is replacing Phuthuma Nhleko, who has notified the Board he is stepping down with immediate effect as Chair and non-executive director to focus on other business interests. In addition, Genevieve Sangudi, Martin Greenslade and Mitchell Ingram have also notified the Board they are stepping down with immediate effect as independent non-executive directors of the Board. The Company intends to replace key positions on the Board, whilst retaining a small, focused and aligned Board going forward. Further announcements will be made in due course.\nThe significant reduction in the size of the Board1 will result in a further reduction of Tullow's cost base.\n1 As of 1 December 2025 the Board consists of Roald Goethe (Independent Non-Executive Chair of the Board), Rebecca Wiles (Independent Non-Executive Director), Ian Perks (Chief Executive Officer) and Richard Miller (Chief Financial Officer).\n \nRoald Goethe, Chair of Tullow Oil Plc, said: \"It is an honour to be appointed as Chair of Tullow. I look forward to supporting Ian, Richard and the team and engaging with our key stakeholders as we build on Tullow's reputation as a leading oper...