Hurricane Energy Plc (LON:HUR) told investors it has now hired executive search recruiter Spencer Stuart to source the company’s new chairman.
The UK offshore oil company said in a statement that once a new chairman is in place it will seek to appoint additional independent non-executive directors to the board in order to make it fully compliant with corporate governance guidelines.
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Additionally, on the recommendation of the company’s Listing and Governance Committee, Hurricane has now engaged specialist shareholder engagement and corporate governance consultant, Boudicca Proxy, which will assist the evaluation and transition of the firm’s policies into line with ‘premium listed’ stock exchange companies.
"I am pleased to report that the listing and governance committee's initial recommendations have been made to the Board and have been acted upon,” said John van der Welle, chairman of the LGC.
“I would like to thank shareholders for their input as part of this process.
“The LGC's review of the company's organisation and governance structure will continue into the new year. “