LONDON - Tullow Oil (LON:TLW) PLC, an independent energy company, announced today that Sheila Khama, serving as an independent Non-Executive Director on its board, has been appointed to the board of ACWA Power as an independent Non-Executive Director. The appointment took effect on January 1, 2025, as per the company’s compliance with Listing Rule 9.6.14(2).
ACWA Power is a prominent player in the power generation and water desalination industries, and it is listed on the Saudi Stock Exchange (Tadawul). Khama’s new role at ACWA Power signifies a strengthening of ties between the two entities within the energy sector.
Tullow Oil focuses on responsible oil and gas development in Africa, with operations centered in West-African nations including Ghana, Gabon, and Côte d’Ivoire, as well as a significant resource base in Kenya. The company has made a commitment to achieve Net Zero on its Scope 1 and 2 emissions by 2030 and aims to deliver lasting socio-economic benefits in the regions where it operates through its Shared Prosperity strategy.
This cross-appointment of board members is a common practice in the industry, allowing for a diverse exchange of expertise and governance practices. It is also an indicator of the interconnected nature of the global energy market, where companies often collaborate and share board members to enhance strategic alignment and industry insight.
The news of Khama’s appointment is based on a press release statement and is a factual representation of the corporate governance changes within Tullow Oil and ACWA Power. Both companies are publicly traded, with Tullow Oil listed on the London and Ghanaian stock exchanges under the ticker symbol TLW.
The announcement did not include any additional strategic changes or operational updates from Tullow Oil or ACWA Power. It remains to be seen how this new appointment will influence the corporate strategies or governance of either company.
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