IOG plc ("IOG", or "the Company"), announces that, following the announcement on 24 February 2023 of the intention to recruit two new directors to strengthen the Board, Les Wood has been appointed as an independent Non-Executive Director of the Company with immediate effect and will become Chair of the Audit Committee in due course.
Les has a 35-year track record of strong financial and operational delivery in independent and integrated energy companies across multiple jurisdictions. As Chief Financial Officer (CFO) and Executive Director at Tullow Oil plc over 2017-22, he was instrumental in delivering material portfolio optimisation, cost management, debt reduction and capital markets activities. Prior to Tullow, Les had a 28-year career at BP plc including, most recently, CFO roles in the Middle East (2012-14) and Canada (2009-12). With a technical background, he previously held several other North Sea-focused technical and commercial roles at BP.
Les Wood's appointment is the culmination of a process undertaken for the Company by a specialist search agency. IOG intends to appoint an additional independent Non-Executive Director once the Blythe H2 production well is onstream.
Esa Ikaheimonen, Senior Independent Director, commented:
"We are delighted to welcome Les to the Board of IOG where his strong financial and technical expertise and deep industry experience gained at BP and Tullow will be extremely valuable. Les was the outstanding choice from a broad range of strong candidates in this process."
The following information is disclosed pursuant to Rule 17 and Schedule Two, paragraph (g) of the AIM Rules for Companies:
George Leslie ("Les") Wood
George Leslie ("Les") Wood (aged 61) has been a director of the following companies during the five years preceding the date of this announcement: