UK-based Independent Oil and Gas (IOG) has appointed an independent non-executive chair of the board with effect from January 1, 2019.
IOG said on Tuesday that Fiona MacAulay was named as the independent non-executive chair of the board.
MacAulay will also assume the position of chair of the Remuneration Committee and the HSE and Technical Committee.
MacAulay succeeds Mark Routh, who joined as CEO in 2011 and is currently a non-executive chairman, and who will step down from the board on the same date.
She joined the IOG board in July 2018 as the senior independent non-executive director, bringing extensive industry expertise to the company with over 30 years of global experience with both major and independent oil companies including Mobil, Amerada Hess, and BG.
More recently she was the COO of Rockhopper Exploration and until December 31 is the CEO of Echo Energy. MacAulay is also currently a non-executive director at Coro Energy and will transition to a non-executive role at Echo Energy in January 2019.
IOG added that it was in the process of identifying and appointing at least one more independent non-executive director.
Andrew Hockey, CEO of IOG, said: “It has been a real pleasure working with Mark, both as deputy CEO and as his successor as CEO. Mark guided the company through its early growth and was instrumental in the acquisition of the Thames pipeline and in building up our high-value UK gas portfolio of over 600 BCF during some very challenging years in the industry.
“I am delighted that Fiona will now be stepping up as the next chair of the board. We look forward to her active leadership as we progress to project execution on our core reserves and to adding further value to our Southern North Sea gas portfolio.”
Routh, chairman of IOG, added: “It has been a great pleasure to lead the board of IOG and I am proud of the valuable gas business we have built over the past few years. I wish the company well and look forward to following IOG’s progress in the coming years with much interest as a long-term, supportive shareholder.”
Regarding her appointment, MacAulay, the chair-designate of IOG, said: “I am delighted to succeed Mark as chair of the board of IOG and to be working with Andrew and the team as they pursue IOG’s cost-effective proven hub strategy in the UK Southern North Sea. Mark leaves us very well positioned to execute on our high-value gas hubs and achieve further growth in the coming years.”