Petroamerica Provides Management and Board Changes

Source: www.gulfoilandgas.com 1/7/2015, Location: South America

Petroamerica Oil Corp., a junior oil and gas company operating in Colombia is pleased to announce the following changes to its Board and Management team as part of the Company’s succession plan.

Effective immediately, Dr. Ralph Gillcrist, who has been the Company’s Chief Operating Officer (“COO”) and Executive Vice President since December 2012 and joined the Company as Vice President of Exploration in October 2010, will assume the role of President and Chief Executive Officer (“CEO”) and will accept a seat on the Board of Directors. Mr. Nelson Navarrete, who has been President and CEO of the company since January 2011, will move to the position of Executive Chairman, succeeding Mr. Jeffrey Boyce who has been Executive Chairman of the Company since January 2011; Mr. Boyce will become the Lead Executive Director of the Company.

Dr. Gillcrist has played a pivotal role in building the Company to where it is today and throughout his tenure as COO has demonstrated that he has the necessary skills, aptitude, experience and background to lead the Company during its next phase of growth. With this appointment, the executive leadership of the Company will be headquartered in Calgary, Canada, thereby streamlining the corporate decision-making process. Mr. Navarrete, who has also been instrumental in contributing to the Company’s success, will continue to play an active role by applying his considerable knowledge of the Colombian oil and gas sector to build and manage in-country relationships with governmental bodies, regulatory authorities and joint venture partners. Mr. Boyce, together with the Board and Senior Management, will continue to steer the strategic direction of the Company.

Mr. Boyce commented “with the fundamental changes to our business following the acquisition of Suroco last summer, these executive leadership appointments allows the Company to better leverage its leadership strengths and talents. Dr. Gillcrist, since joining Petroamerica, has consistently demonstrated leadership qualities that will beneficially serve the Company and its shareholders in this particularly challenging oil price environment. Mr. Navarrete will continue to utilize his extensive in-country knowledge and high-level contacts to the benefit of Petroamerica’s business activities in Colombia. This smooth leadership transition offers a level of continuity that will better serve the business interests of the Company and shareholders alike”.


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Related Categories: Events  Executive Recruiting  General  Legal  Petroleum Associations  Professional Associations  Sourcing & Procurement 

Related Articles: Events  Executive Recruiting  General  Legal  Petroleum Associations  Professional Associations  Sourcing & Procurement 


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