Ophir Chairman stands down after 7 years in position

  • Business & Finance

Ophir Energy, a London-listed energy company, has informed that its Chairman and director Nicholas Smith, will be retiring after nine years on Ophir’s Board. Smith, having served seven years as Chairman, is expected to leave on April 30, when he will be succeeded by William Schrader.

Scharder joined the Ophir Board as non-executive director in 2013. He has over 30 years’ experience working at BP plc, including as Chief Executive of several country operations, as President of the Azerbaijan International Operating Company and as Chief Operating Officer of TNK-BP.

Furthermore, Ophir disclosed that Ronald Blakely has decided not not to stand for re-election as a Non-Executive Director of Ophir at the 2017 Annual General Meeting, and will consequently be stepping down from his roles as Senior Independent Director, as Chairman of the Audit Committee, and will retire as a Director, all in the first quarter of 2017.

Blakely said: “On behalf of the Board and Management I would like to thank Nic for his highly valuable contribution to overseeing the transition of Ophir from a private company to a well-established London – listed company. It has been a pleasure to work alongside him and we wish him well in his future endeavours.

“I would also like to extend our congratulations to Bill on his appointment as Chairman. Bill was the outstanding candidate for the role of Chairman, combining over 30 years of industry experience with three years on the Board of Ophir. He has been an excellent Board member and I have no doubt will prove to be an outstanding Chairman.”

Ophir also decided to elevate the role of Chief Financial Officer that of an Executive Director. Consequently, Anthony (Tony) Rouse, Ophir’s Chief Financial Officer, will become an Executive Director with immediate effect.

Blakely said: “Finally, having completed a Board review and determined that the role of Chief Financial Officer should be an Executive position, I am delighted to welcome Tony to the Board. Tony’s extensive experience in the oil and gas industry will be a valuable addition going forward.”

Earlier this week Ophir made news after announcing a surprising deal. Namely, the company has entered into an agreement to sell 40% economic interest in the Fortuna FLNG project, offshore Equatorial Guinea, to Schlumberger, the world’s largest oilfield services provider.

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