Former Fairfield CFO to join Premier Oil’s board

  • Business & Finance

Oil and gas company Premier Oil has announced that Iain Macdonald will join the company’s board as an independent Non-Executive Director and member of the Audit & Risk Committee with effect from May 1, 2016.

The oil company said that Iain Macdonald would stand for election by shareholders at the forthcoming Annual General Meeting to be held on May 11, 2016.

Macdonald spent 30 years at BP in a variety of engineering, licensing, business management and finance roles culminating in 3 years as Deputy Group CFO for BP.

On leaving BP, in 2010, Macdonald joined North Sea Oil and Gas independent, Fairfield Energy as CFO where he served until 2014. He was a Non-Executive Director of TNK-BP from 2009 to 2011 and became a Non-Executive director of Skills For Health Ltd in 2013, a role that he continues to hold today, said Premier.

Macdonald is currently a Non-Executive Director and Chairman of the Audit Committee at SUEK PLC. He is also a Fellow of the Institution of Chemical Engineers, Premier added.

David Lindsell, currently Chairman of Premier’s Audit & Risk Committee, will stay on the Board and act as Chairman of the Audit & Risk Committee throughout the forthcoming external audit tender process, which is likely to take place in the fourth quarter of this year.

The oil company noted that Iain Macdonald would take on the role of Chairman of the Audit & Risk Committee upon the retirement of David Lindsell, which is anticipated to be at the company’s 2017 Annual General Meeting.

Mike Welton, Chairman, commented: “I am delighted to welcome Iain to the Board and am absolutely confident that his experience and skills will be of enormous value to the Board and the Company as a whole.”

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