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Investing.com -- Tullow Oil PLC (LON:TLW) announced the appointment of Roald Goethe as independent non-executive Chair of the Board, effective Monday.
Goethe, who has served as an independent non-executive Director at Tullow since February 2023, brings extensive experience in the oil and gas industry, particularly in Africa.
His background includes significant 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.
The appointment comes as part of a major Board reset, with former Chair Phuthuma Nhleko stepping down with immediate effect to focus on other business interests. Three other independent non-executive directors - Genevieve Sangudi, Martin Greenslade, and Mitchell Ingram - have also departed.
Following these changes, Tullow’s Board now consists of just four members: Goethe as Chair, Rebecca Wiles as Independent Non-Executive Director, Ian Perks as Chief Executive Officer, and Richard Miller as Chief Financial Officer.
The company stated that this significant reduction in Board size will further reduce its cost base.
Goethe, a long-term supporter of Tullow who holds 28,259,396 shares and approximately $400,000 in 2026 Senior Notes, expressed confidence in the company’s future.
"It is an honour to be appointed as Chair of Tullow. 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.
He added: "With a renewed leadership structure, reset Board and reduced cost base now in place, we are ready to take on the challenges and opportunities which lie ahead of us, including advancing plans to refinance the Company’s capital structure and to position Tullow to deliver value for all stakeholders."
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