Scirocco Energy PLC (AIM:SCIR) has announced the departure of chief operating officer Doug Rycroft following the company’s divestment of an interest in the Ruvuma asset.
It comes as Scirocco shrinks its management team, as planned.
"As a secondee from Gneiss Energy, which assisted us with the disposal of Ruvuma, Doug has played a critical role in managing Scirocco's interest in Ruvuma since 2018 and overseeing the divestment process,” chief executive Tom Reynolds said in a statement.
“I'd like to thank him for his hard work in assisting that transformative transaction over the line.
“As we previously communicated to the market, the board's priority in the near-term is to preserve cash until we land on the next investment and the shrinking of the executive team supports that focus."