Baron Oil PLC (AIM:BOIL) has announced boardroom changes to bolster the management team under recently appointed chief executive Andy Butler.
“The refreshed board and executive team are committed to building shareholder value, strong governance and transparency," Butler stated.
“The board's priority remains to progress and realise the value in the Chuditch project in Timor-Leste, where we continue to prepare to drill the key appraisal well in parallel with discussions with potential funding partners."
Gerry Aherne, formerly chair of Cenkos, has replaced John Wakefield as the company’s new non-executive chair with immediate effect.
Technical director Jon Ford is stepping down from the board and will be retained in a part-time consultancy role to act as a technical adviser.
The company appointed John Chessher as independent non-executive director and Rob Collins has joined as chief financial officer which is currently a non-board position.
"I would like to thank John Wakefield and Jon Ford for their significant contributions to the board and I am delighted to welcome Gerry Aherne and John Chessher, who I know will bring excellent guidance and oversight as we take the company forward,” Butler said.
“The appointment of Rob Collins as CFO is also great news, as he brings a wealth of expertise in financing of natural resources projects.”