Gulf Oil and Gas accountACCOUNT

Genel Energy Chairman Steps Down

Source: www.gulfoilandgas.com 12/4/2019, Location: Middle East

Following the announcement of 16 May 2019, in which it was stated that Steve Whyte, Chairman of Genel Energy plc, would not be standing for re-election at the 2020 Annual General Meeting, the Company announces that Steve has now resigned with immediate effect.

George Rose, Senior Independent Non-Executive Director, will act as interim Chairman until the ongoing search for a permanent Chairman is completed.

George Rose, interim Chairman, said:
“When Steve joined Genel the Company had net debt of almost $150 million and unpaid oil receivables of over $400 million. He was a driving force behind the Receivable Settlement Agreement, which has transformed Genel’sfinancial position. We now have a stronger portfolio with exciting growth options and the right team to deliver them. Our highly cash generative oil production more than funds this growth, with sufficient cash left over to pay a material and progressive dividend. I would like to thank Steve for his efforts at Genel and look forward to seeing his future successes.”

Executive Recruiting News in Iraq >>

United Arab Emirates >>  1/20/2020 - SNC-Lavalin has been awarded an engineering services contract from Al Dhafra Petroleum, a joint venture company between ADNOC and the Korea National O...
Oman >>  12/31/2019 - Petrofac announces a new contract and the award of an additional scope of work with Petroleum Development Oman (PDO), with a combined value of approxi...

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

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


Iraq Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.