Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) said it has appointed David Hobbs as its executive chairman after Phillip Gobe decided to retire.
Gobe has been the Alaska oil group’s chairman since October 2017, a period that has seen Pantheon develop from holding a non-operating working interest owner in Texas to an operating company with 100% working interest in potentially over 2bn barrels of contingent resources on the North Slope of Alaska.
Hobbs 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.
Jay Cheatham, Pantheon’s chief executive, said Hobbs brings a wealth of knowledge and experience, noting: “We will now work together to develop the framework of complementary roles for David as Executive Chairman and myself as CEO.”
Cheatham added Gobe leaves the company in a much stronger position than when he joined: “During Phillip's tenure, we successfully merged with Great Bear and developed the current Alaskan asset base that we consider to be world-class.”