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Vaalco Energy CEO Cary Bounds stands down
StockMarketWire.com
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Oil company Vaalco Energy said chief executive Cary Bounds was leaving to pursue other interests.
The company had appointed George Maxwell as Bonds' replacement, effective immediately.
Maxwell had has been a non-executive director of the company since June 2020 and resided in the UK.
'The Company's stated goal is to continue to be one of the leading independent exploration and production companies in West Africa, with a strategy of achieving significant shareholder returns by maximizing the value of, and free cash flow from, its existing resources, coupled with highly accretive inorganic growth opportunities,' Vaalco said.
'The board believes that Mr. Maxwell's recent achievement of founding, building, and selling a successful African energy company, as well as his significant experience serving in executive leadership positions, a proven track record in M&A and strong ties to the European, American and African capital market communities will complement and accelerate the company's ability to achieve this strategy.'
At 10:03am: (LON:EGY) share price was 0p at 85p
Story provided by StockMarketWire.com
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