Pharos Energy PLC Appointment of non-executive Chair (1543Q)
17 Octubre 2019 - 1:00AM
UK Regulatory
TIDMPHAR
RNS Number : 1543Q
Pharos Energy PLC
17 October 2019
Pharos Energy plc
("Pharos" or the "Company" or, together with its subsidiaries,
the "Group")
Appointment of John Martin as non-executive Chair of Pharos
Energy plc
Pharos Energy plc, is pleased to announce the appointment of
John Martin as Chair of the Board of Directors with effect from 13
March 2020.
John Martin was appointed as an Independent non-executive
Director on 7 June 2018. John has more than 30 years' experience in
international banking in the oil and gas industry and, was a Senior
Managing Director in the Oil and Gas team at Standard Chartered
Bank. Prior to joining Standard Chartered in 2007, John worked for
ABN Amro for 26 years, specialising in the oil and gas sector. John
has served as Senior Vice President of the World Petroleum Council,
and as an independent non-executive Director of Rockhopper
Exploration plc. He was previously Chairman of Falkland Oil and Gas
Limited, an Independent non-executive Director on the board of
Bowleven plc and, an independent non-executive Director and Chair
of the Audit Committee of Total E&P UK Limited.
On becoming Chair, John will resign from the Audit and Risk
Committee and Remuneration Committee. John will remain Chair of the
ESG Committee, and will serve as Chair of the Nominations Committee
replacing the current Chair, Rui de Sousa, in that role. Rui de
Sousa will also retire from the Board on 13 March 2020.
This appointment comes after a process, using Korn Ferry as
search consultants, to identify a successor to Rui de Sousa who has
previously indicated his intention to retire. Rob Gray, the Deputy
Chairman and senior Independent Director recused himself from
consideration as Chair and led the process with Korn Ferry. The
search for a new Chair of the Audit and Risk Committee to replace
John has commenced, again led by Korn Ferry. The Company is
committed to good governance and will continue to review the
balance and effectiveness of the Board with a view to adding
Independent non-executives commensurate with our size and
needs.
Antony Maris, Chief Operating Officer, will also step down at
the end of the year after 15 years of service.
Rui de Sousa, Chair
"I'm delighted that John Martin will succeed me as Chair and I
wish him all the best in his new role. John has contributed a great
deal of knowledge and expertise during his tenure as Independent
non-executive Director. 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. I'd also like to thank Antony for his service to the
Company over the years, his commitment has been exceptional and we
wish him all the very best for the future."
Ed Story, President and CEO
"Rui has been Chair, during some of our most exciting but also
some of our most challenging years and I thank him for his
extensive service throughout his tenure. Rui has been a valued
colleague and I wish him all the very best for the future. I look
forward to continuing to work with John as the Company returns to
growth and we deliver on our principal strategy of sustainable long
term growth. I wish John all the best in his new role. 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."
John Martin, Independent non-executive Director
"I am very pleased to be taking on the role as Chair, having
served as an Independent non-executive Director. I see great
potential in the Company and have already seen significant changes
and progress during my tenure. I look forward to continuing to work
with Ed and the Board as we work to focus on delivering the full
potential of the Company's opportunities and return to growth when
so much work has been done to refresh the Company's portfolio, its
governance and its Board."
Enquiries
Pharos Energy plc Tel: 020 7747 2000
Ed Story, President and Chief Executive Officer
Jann Brown, Managing Director and Chief Financial Officer
Mike Watts, Managing Director
Sharan Dhami, Group Head of Investor Relations
Camarco Tel: 020 3757 4980
Billy Clegg | Owen Roberts | Monique Perks
Notes to editors
Pharos Energy is an independent oil and gas exploration and
production company with a focus on sustainable growth and returns
to stakeholders, headquartered in London and listed on the London
Stock Exchange.
Pharos has production, development and exploration interests in
Egypt and Vietnam.
In Egypt, Pharos holds a 100% working interest in the El Fayum
oil concession in the low-cost and highly prolific Western Desert,
one of Egypt's most established and prolific hydrocarbon basins.
The concession produces from 10 fields and is located 80 km south
west of Cairo and close to local energy infrastructure. It is
operated by Petrosilah a 50/50 JV between Pharos and Egyptian
General Petroleum Corporation (EGPC).
In Vietnam, Pharos holds a 30.5% working interest in the Te Giac
Trang (TGT) Field in Block 16-1, which is operated by the Hoang
Long Joint Operating Company. Block 16-1 is located in the shallow
water Cuu Long Basin, offshore southern Vietnam and a 25% working
interest in the Ca Ngu Vang (CVN) Field in Block 9-2, which is
operated by the Hoan Vu Joint Operating Company. Block 9-2 is
located in the shallow water Cuu Long Basin, offshore southern
Vietnam. Pharos also holds a 70% interest in and is designated
operator of Blocks 125 & 126, located in the moderate to deep
water Phu Khanh Basin, north east of the Cuu Long Basin, offshore
central Vietnam.
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END
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