Mosman Oil and Gas Ltd (AIM:MSMN) has begun a shake-up of its senior management team as the company embarks on a review of its strategy and operations in the United States and Australia.
Andy Carroll has stepped down as chief executive after nearly two years in the role and a longer stint as technical director. He will be replaced on an interim basis by Howard McLaughlin, currently head of Mosman’s US operations, pending completion of standard due diligence.
McLaughlin’s appointment will ensure continuity during the transition period, as the company looks to sharpen its focus on expanding production and generating cash flow from its core US assets, the company said in a statement.
Mosman, which is listed on London’s junior AIM market, said it had begun a broader review of its corporate structure to bolster its management capacity and increase its operational presence in the United States.
The company’s portfolio includes interests in helium, hydrogen and traditional oil and gas assets.
In parallel, Mosman will also reassess its asset base, including royalty holdings in Australia, to ensure it matches its longer-term growth plans. This process is expected to guide future decisions on capital deployment and portfolio development.
The company has agreed to settle share options granted to Carroll under a resolution passed at its 2024 annual general meeting. The settlement is due to be completed by the end of June.
Chairman, Carl Dumbrell, commented: "We are grateful for Andy's work over his tenure at Mosman.
"With Howard, our head of US operations, stepping into the role of interim CEO, we are confident in the company's ability to maintain momentum.
"I am excited about the opportunities ahead for Mosman and we are committed to expanding our presence in America and optimising our asset portfolio to drive substantial value for shareholders."