New Age elects new non-executive chairman

Oil and gas company New Age has appointed a new non-executive chairman of the board.

New Age said on Monday that Timothy Summers was named as its non-executive chairman, effective September 1.

Summers almost thirty years of experience in both oil and gas, engineering, and manufacturing sectors, the company said.

He held a variety of senior executive and board roles in BP, TNK-BP, KCA-Deutag, Renova AG, and Sulzer AG. He is a chartered engineer and a former chairman of the Swiss-listed engineering firm Oerlikon AG.

Regarding his appointment, Timothy Summers said: “New Age is an exciting business to join. The company has an impressive cadre of oil & gas professionals who have assembled and matured a strong, balanced portfolio of energy assets. I look forward to working with the Board and management team as we enter a new phase for the company.”

David Stoopin, chief executive of New Age, added: “Our new chairman brings valuable experience, gathered in complex industries, to lead New Age in the next stage of its development as an emerging E&P business. We look forward to his presence, leading the board, during an important period of change as we continue to unlock value within our multinational portfolio.”

In recent company news, New Age spud the IE-4 appraisal well at the Etinde block offshore Cameroon in late August with the Topaz Driller jack-up rig.