Genel Energy PLC Directorate Change (0564D)
April 24 2017 - 2:01AM
UK Regulatory
TIDMGENL
RNS Number : 0564D
Genel Energy PLC
24 April 2017
24 April 2017
Genel Energy plc
Directorate Change
Genel Energy plc ('Genel Energy' or 'the Company') announces
that Stephen Whyte has been appointed as an independent
non-executive director and Chairman designate with immediate
effect.
Tony Hayward will retire as a Director and Chairman of the
Company at the conclusion of the 2017 AGM, to be held on 6 June
2017, at which point Stephen Whyte will take up the role of
Chairman.
Murat Özgül, Chief Executive of Genel, said:
"It has been a great pleasure to have worked with Tony during
his time at Genel. When we first started working together, the oil
industry in the Kurdistan Region of Iraq was still in its infancy,
without an export pipeline and there was a high degree of
uncertainty over export sales. Kurdistan now has a fully
operational pipeline infrastructure exporting up to 600,000 bopd,
and Taq Taq and Tawke have a proven track record of international
sales and significant cash generation. Everyone at Genel wishes
Tony all the best in his future activities."
Stephen Whyte, Chairman designate, said:
"Genel has operated in a very tough environment in recent years
but I believe the Company has renewed momentum and significant
opportunities in the portfolio. The fall in oil price impacted the
entire industry, and that, coupled with the impact of the war
against ISIS, put pressure on the finances of the already squeezed
Kurdistan Regional Government. As the environment now improves, I
look forward to working with the Board to ensure that Genel has the
best possible strategy for the future."
No information is required to be disclosed under Listing Rule
9.6.13R.
-ends-
For further information please contact:
Genel Energy
Sarah Robertson, Company Secretary
Phil Corbett, Head of Investor
Relations
Andrew Benbow, Head of Public
Relations +44 20 7659 5100
Vigo Communications
Patrick d'Ancona +44 20 7830 9700
Notes to editors:
Stephen Whyte
Stephen Whyte has almost 30 years of experience in the oil and
gas industry. A significant part of his career has been spent at
Royal Dutch Shell, where he held a variety of technical and
commercial roles, and he also spent six years with UK Independent
Clyde Petroleum, as Exploration Leader and then Commercial
Director. Having left Royal Dutch Shell in 2011, Stephen became
SVP, Europe and Central Asia, Commercial, for BG Group. Latterly he
was Head of Exploration and Production at Galp Energia, Portugal's
largest listed company, where he also served on the Board. In
addition to his role at Genel, he is Non-Executive Chairman of
Sound Energy plc and a Non-Executive Director of Echo Energy
plc.
Genel Energy
Genel Energy is an independent oil and gas exploration and
production company listed on the main market of the London Stock
Exchange (LSE: GENL). The Company, with headquarters in London and
offices in Ankara and Erbil, is one of the largest London-listed
oil producers and the largest holder of reserves and resources in
the Kurdistan Region of Iraq. Through its Miran and Bina Bawi gas
fields, the Company is positioned to be a cornerstone provider of
KRI gas to Turkey under the KRI-Turkey Gas Sales Agreement. Genel
also continues to pursue further growth opportunities within the
Middle East and Africa. For further information, please refer to
www.genelenergy.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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