Tullow Oil appoints Roald Goethe as chair amid board reset

LONDON - Tullow Oil plc (LSE:TLW) announced Monday the appointment of Roald Goethe as independent non-executive Chair of the Board, effective immediately, as part of a significant board restructuring.

Goethe, who has served as an independent non-executive director at Tullow since February 2023, replaces Phuthuma Nhleko, who has stepped down with immediate effect to focus on other business interests. Three additional non-executive directors - Genevieve Sangudi, Martin Greenslade and Mitchell Ingram - have also departed.

The Africa-focused energy company stated that the board reduction is intended to create a "small, focused and aligned Board" while further reducing Tullow’s cost base. Following these changes, Tullow’s board consists of four members: Goethe as Chair, Rebecca Wiles as independent non-executive director, Ian Perks as CEO, and Richard Miller as CFO.

Goethe brings extensive oil and gas industry experience, particularly in African markets. His background includes executive roles at Trafigura Group, where he helped develop oil trading activities in West Africa, and founding Delaney Petroleum Ltd, which traded crude oil and petroleum products in West Africa and the Middle East.

"I look forward to supporting Ian, Richard and the team and engaging with our key stakeholders as we build on Tullow’s reputation as a leading operator within the African oil and gas sector," Goethe said in the press release statement.

The new chair also noted that with the leadership restructuring and reduced cost base now in place, the company is positioned to advance plans to refinance its capital structure and "deliver value for all stakeholders."

Goethe is described as a "long-term supporter" of Tullow, holding 28,259,396 shares and approximately $400,000 in 2026 Senior Notes.

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