Ophir Energy Plc. (OPHR.L) said Thursday that it will restructure and streamline the senior management team, as part of a reorganisation across all levels of the company designed to reduce costs, and adjust to the future needs of the business.
The restructuring will result in a smaller Board with the number of Executive Directors reducing from three to two and Non-Executive Directors reducing from six to five.
Bill Higgs has been appointed as Chief Operating Officer, effective 10 September 2014, reporting directly to Nick Cooper, and will join Nick as the second Executive Director and Board Member.
Bill Higgs has over 25 years of global exploration, development and operations experience, the majority with Chevron Corporation. His roles at Chevron included Senior Vice President of Operations for Saudi Arabia Chevron, Reservoir Manager for Tengizchevroil in Kazakhstan, Asset Manager for the BBLT development in Block 14 Angola and General Manager for Strategy for Chevron Corporation.
Lisa Mitchell and Dennis McShane are stepping down from their respective roles as Chief Financial Officer and Director of Strategy and are expected to step down from the Board before the end of 2014. The company said that it will make further announcement in due course confirming the effective dates of Lisa's and Dennis' departures.
Meanwhile, the company stated that Lyn Powell has decided not to stand for annual re-election as a Non-Executive Director in 2015 and will therefore step down from the Board at the conclusion of the 2015 AGM. Lyn joined as a Non-Executive Director in 2007 and has been involved in all elements of the Company's growth since then.
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