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Nostrum Oil chief financial officer steps down after just one year

28th Sep 2022 15:47

(Alliance News) - Nostrum Oil & Gas PLC on Wednesday said its Chief Financial Officer Shane Drader has resigned.

Nostrum is an Amsterdam-headquartered oil and gas company with operations in Kazakhstan.

Drader joined the company in August last year.

Nostrum said that it will now initiate a process to recruit a new CFO and added that Drader will ensure an effective transfer of his responsibilities.

Chief Executive Arfan Khan said: "Shane has been a valued colleague at Nostrum, serving an important role during a challenging period of transformation for the company as it seeks to complete a financial restructuring and re-establish its operations on a stronger footing."

Shares in Nostrum were down 4.4% to 2.75 pence each in London on Wednesday afternoon.

By Sophie Rose; [email protected]

Copyright 2022 Alliance News Limited. All Rights Reserved.

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