Cadogan Petroleum PLC

Cadogan Petroleum chief executive to step down in September

Guido Michelotti is stepping down as boss for "personal reasons".

Michelotti will remain an executive director until November to ensure an orderly transition

Cadogan Petroleum PLC (LON:CAD) chief executive Guido Michelotti is to resign after four years in the top job.

The oil and gas company said Michelotti is stepping down for “personal reasons” in September after the release of the first-half results.

READ: Cadogan Petroleum applies for 20-year production licence at Monastyretska

He will remain an executive director until November to ensure an orderly transition with the next boss.

Chairman, Zev Furst, said he “wishes to thank Guido Michelotti for his leadership during a challenging time and for his contribution to a successful transformation of Cadogan, which has now a solid foundation on which to build its future”.

Quick facts: Cadogan Petroleum PLC

Price: £0.07

Market: LSE
Market Cap: £15.91 m

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