17th Oct 2019 08:50
(Alliance News) - Newly renamed oil & gas firm Pharos Energy PLC said Thursday that Non-Executive Director John Martin has been appointed chair-elect from March 2020, whilst its longstanding operations chief takes his leave.
Martin - a non-executive since 2018 - will replace current Chair Rui de Sousa on March 13, 2020. Martin previously served as chair of Falkland Oil & Gas Ltd as well as being a non-executive at BowLeven PLC.
De Sousa said he was "delighted" that Martin will succeed him as chair at Pharos, which changed its name from Soco International PLC on Wednesday.
"John has contributed a great deal of knowledge and expertise during his tenure as independent non-executive director," De Sousa added. "John has breadth and depth of experience in the industry, in leadership and finance. There is no doubt that John will continue to make a great contribution to the company and steer it in the right direction as it enters a new phase - return to growth."
In addition, Pharos announced Chief Operating Officer Antony Maris will step down at the end of 2019.
Pharos Chief Executive Officer Ed Story said: "Antony has been our chief operating officer for 15 years and, instrumental in the challenging drilling and development successes the company has had in many different countries and environments, I wish him well for the future."
Shares in Pharos were down 3.1% at 62.00 pence in London on Thursday.
By Ahren Lester; [email protected]
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