21st Oct 2014 08:07
LONDON (Alliance News) - Oilex Ltd Tuesday appointed Chris Bath to take over as chief financial officer and company secretary, but said that he would not join the board of directors due to company policy.
Bath will replace Robert Ierace from October 24. Oilex did not say why Ierace is leaving the company, but thanked him in a statement.
Bath is a chartered accountant with experience in the energy and resources sector in Australia and Asia. Most recently, he was the chief financial officer and company secretary for Buru Energy Ltd, an Australian Securities Exchange listed oil and gas company, said Oilex in a statement.
"The board welcomes him [Bath] to the senior management team and we look forward to his contribution to the business as we progress the development of our Indian and Canning Basin assets and review additional opportunities for growth. I would also like to thank Rob for his contribution and wish him all the best in the future," said Managing Director Ron Miller.
"Consistent with company policy, Mr Bath will not be joining the board of directors at this time," said Oilex.
Oilex shares were down 2.4% to 4.39 pence per share Tuesday mroning.
By Joshua Warner; [email protected]; @JoshAlliance
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