Bill Higgs has agreed to step down as CEO of Genel Energy plc ('Genel' or 'the Company') with immediate effect, following negotiations with the Board following the recent AGM, at which he did not receive the minimum 50% majority of votes in favour of re-election as a Director.
Dr Higgs will take up a role as Special Advisor to the Chairman until 1 September 2022, to support an
orderly transition, after which he will remain as a consultant to the Company.
Paul Weir, COO, has been appointed as Interim CEO with immediate effect. A search for a suitable
replacement is now ongoing and an announcement will be made in due course.
Paul joined Genel in January 2020, having worked for more than 30 years in upstream E&P with
experience in the North Sea, South East Asia and Africa. Before joining Genel, Paul was Group Head of
Operations and Safety at Tullow Oil, having previously spent 13 years at Talisman as VP Production
and Exploration, and also worked in a variety of roles at Nippon Oil, Elf, Occidental, and Total.
David McManus, Chair, said:
“Bill worked tirelessly at Genel and oversaw a positive change in the strategic direction, operational
capability, and culture of the Company. He steps down as CEO with Genel well positioned to utilise
our robust balance sheet and material cash generation to fund growth and underpin our material and
progressive dividend for the long-term.
Paul has been a key contributor to the transition of Genel into an operator with interests in more
producing assets than any other IOC in Kurdistan, and, given his longstanding operational experience
with a range of world class companies, is perfectly placed to lead the team as it seeks to progress its
next phase of growth.”
