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PetroNeft Resources PLC - Ireland-based, Russian-focused oil and gas exploration and production company - Announces that Alastair McBain has resigned as non-executive chair of the board with immediate effect. Pavel Tetyakov, who has been an executive director and senior vice president of new business, will assume the role of chief executive officer. David Sturt, formerly chief executive officer, will assume the role of executive chair with immediate effect.
McBain was appointed to the PetroNeft board initially as non-executive director on January 31, 2021 and then assumed the role of chair on February 21, 2021.
Chair David Sturt says: "I want to thank Alastair for his leadership, vision & guidance, which was greatly appreciated. I wish him well in his future endeavours. I, together with the other members of the board, look forward to working with Pavel in leading the management of the Company through these most difficult times."
Current stock price: 0.83 pence, up 10% on Friday
12-month change: down 78%
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