18th May 2018 09:04
LONDON (Alliance News) - Oil and gas company Ophir Energy PLC said on Friday Chief Executive Officer Nicholas Cooper will step down form his role with immediate effect, but will remain with the company temporarily to ensure a smooth handover.
Non-Executive Director Alan Booth has been appointed as interim CEO until a permanent successor is found. The look for a new chief executive reflects Ophir's strategy to rebalance its portfolio towards larger production, and support more sustainable exploration activity, the company said.
Cooper has been chief executive at Ophir since 2011, joining from Salamander Energy PLC, where he was chief financial officer for six years from 2005 to 2011.
"On behalf of the board, I would like to thank Nick very much for his service to the company. Nick was appointed chief executive officer in 2011 when Ophir was a frontier explorer. Today, we have a production-focussed business model, exemplified by the proposed Santos transaction. This positions the company well for the future and provides a great platform to Nick's successor. We wish Nick all the very best for the future. In Alan Booth, we have an excellent interim chief executive officer with the relevant operational experience," said Chairman Bill Schrader.
Shares in Ophir Energy were down 6.4% at 61.60 pence on Friday.
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