Mr Wolcott will also join the Audit and Nominations Committees and Mr Mach will join the Remuneration Committee. The new directors are looking forward to reviewing the Company's business, and, in conjunction with the Board and management, to reporting to shareholders at the Capital Markets Day scheduled for the autumn of 2014.
As part of the agreement with Worldview, the Petroceltic Board has been reduced from 9 to 7 members, and Mr Hugh McCutcheon and Mr Rob Arnott have resigned as non-executive directors. In addition, Mr David Thomas and Mr Tom Hickey have stepped down from the Board, but will continue to hold their executive roles in the Company, which will include regular attendance at Board meetings.
Robert Adair (pictured), Chairman of Petroceltic, commented:
"We welcome Don Wolcott and Joe Mach to the Board of Petroceltic and look forward to working with them over the coming years. On behalf of the Board and the Company as a whole, I would like to convey our thanks for the outstanding contribution, counsel and support provided by Hugh McCutcheon and Rob Arnott since their appointments and we wish them well in their future endeavours."
(Source: Petroceltic)
Comments are closed.