22nd Jan 2015 09:46
LONDON (Alliance News) - Madagascar Oil Ltd on Thursday announced a rejigging of its board, with a new chief executive, chairman and independent non-executive director appointed.
Madagascar said Robert Estill has been appointed as chief executive. He joins from US oil company Marathon Oil Corp, where he most recently worked as vice-president of strategic planning and portfolio management.
Andrew Morris, who is already a non-executive director of Madagascar's board, will become non-executive chairman, while Chief Financial Officer Gordon Stein has stepped down from the board but will retain the CFO role.
The company also appointed Michael Duginski, a former executive at Berry Petroleum Co, as an independent non-executive director.
Madagascar shares were up 2.3% to 4.73 pence on Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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