Ithaca Energy PLC (LSE:ITH), the North Sea oil and gas operator, announced that Alan Bruce, chief executive officer, is stepping down to explore new opportunities.
Bruce successfully led the company through its IPO and inaugural year as a listed entity.
The board will initiate a formal search for a new CEO, and in the interim, Iain Lewis will serve as both interim boss and chief financial officer.
Gilad Myerson said: "The Ithaca Energy board thank Alan for his hard work and strategic insight over the last two and a half years and wish him well for the future. The search for a new chief executive officer will start as soon as possible.”
Bruce added: "I am extremely proud of what Ithaca Energy has accomplished over the past several years, with the company now established as one of the largest independent operators in the UK.”
Ithaca opened 1.5% lower on Friday at around 140p.