KrisEnergy makes management changes in the wake of financial restructuring
- Business & Finance
KrisEnergy, an oil and gas company focused on operations in Southeast Asia, has made changes to its management and the board of directors.
KrisEnergy said on Tuesday that the changes were made following the recent financial restructuring of the company.
Kelvin Tang, currently VP Legal and President of the company’s Cambodia entity, was appointed the chief operating officer (COO), effective March 15, 2017. Apart from his COO role, he will remain the President of KrisEnergy’s Cambodia operations.
He joined KrisEnergy in 2009 and was responsible for the legal and regulatory functions of the company and later took on the additional role of president of KrisEnergy’s activities in Cambodia, where the company is planning the development of the Apsara oil field.
Sally Ting, currently Deputy General Counsel, will succeed Tang and become General Counsel for the KrisEnergy Group.
She joined KrisEnergy from Salamander Energy, now Ophir Energy, where she was regional counsel for eight years, responsible for legal and regulatory matters in Southeast Asia. She has over 18 years of private practice and in-house experience with global law firms and companies.
Furthermore, Chrystle Kuek, Senior Legal Counsel, will take over the role of Joint Company Secretary, together with Jennifer Lee from Intertrust Group, also effective March 15, 2017.
The company added that executive directors Richard Lorentz and Chris Gibson-Robinson would step down from the board of directors, effective April 24, 2017.
Lorentz, director of Business Development, and Gibson-Robinson, director of E&P, will remain in their executive roles until June 30, 2017, and after that become advisors to the Chief Executive Officer.
Jeffrey S. MacDonald, the interim CEO, said: “Following the financial restructuring, we are making some organizational changes to execute our new business plan. Kelvin has been with KrisEnergy since its start up and has been very involved in the company’s restructuring and setting the new strategy.
“Sally joined KrisEnergy in 2015 and has worked closely with management in the legal role and in implementing company strategy. I look forward to continuing to work closely with them both.”
Tan Ek Kia, KrisEnergy’s independent non-executive chairman, said: “Richard and Chris were founding directors of KrisEnergy. They have been instrumental in building a very strong portfolio of assets in Southeast Asia. I would like to thank them for everything they have done for the Company and wish them well in their future endeavors.”
To remind, in late February, KrisEnergy named Kia as the new chairman of the board of directors. He replaced Will Honeybourne, who retired from the board, the Transition Committee, and the Nominating Committee.