The new changes in the Management structure of the world’s leading producers of oil, Tullow will take effect from Wednesday.
That means CEO Aidan Heavey who is retiring his position at the firms AGM and will be succeeded by the current Chief Operating Officer of the company Paul McDade. Mr Paul McDade who joined the company in 2001 has over 30 years’ experience in the oil and gas sector.
The changes according to Tullow is as a result of an internal and external process led by Tullow’s Nominations Committee.
Board chairman, Simon Thompson will also retire from the board after having served for six years as board member and five years as the chairman.
He will be succeeded by the outgoing founder and Chief Executive officer Aidan Heavey.
Also Ann Grant, Senior Independent Director, will step down after nine years’ service on the board while Jeremy Wilson, a non-executive Director of Tullow Oil plc and Chairman of the Remuneration Committee, will succeed Ms Grant as Senior Independent Director
The company says Aidan Heavey’s appointment as non-executive Chairman reflects the Board’s belief that, owing to the unique nature of Tullow’s business and relationships across Africa, a phased transition in the leadership of the Group is appropriate.
Mr. Heavey’s tenure as Chairman will not exceed two years from 26th April 2017 and his appointment is subject to a vote at the AGM on Wednesday.
Source: Africafeeds.com/ Fred Dzakpata
