Australia’s Santos informed that, after seven years in the role, the Managing Director and Chief Executive Officer, David Knox will step down once a successor has been appointed.
In light of the continuing pressure on the Santos share price in recent months and approaches from other parties concerning various assets and strategic opportunities, the company’s board has decided to conduct a full strategic review to examine all options to restore and maximise shareholder value, Santos said in a statement.
Santos Chairman, Peter Coates , will assume the role of Executive Chairman and take executive responsibility for conducting the strategic review with the assistance of Deutsche Bank and Lazard as advisers to the board.
“Until he steps down as CEO, David will remain in his role responsible to the Board for all of the company’s operations and projects,” Coates said.
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LNG World News Staff; Image: Santos