Carnarvon Petroleum’s long-standing director and former CEO has announced his retirement with immediate effect.
Former CEO and retiring non-executive director, Ted Jacobson told the company’s chairman, Peter Leonhard that he is retiring from the Carnarvon board due to health issues and for wanting to spend more time with his family abroad.
Carnarvon said on Monday that Jacobson made himself available for technical support if the company’s team should require his services.
He was a director of the company since 2005 and in his role as managing director and the chief executive officer led the successful discovery, development, and production of oil in Thailand. He was also responsible for securing the Phoenix permits that are currently one of the most exciting exploration plays on Western Australia’s North West Shelf.
Jacobson was a significant contributor to the industry throughout his career, and this earned him the title of “Industry Legend” at the Good Oil Conference in 2015.
Chairman Peter Leonhardt said: “Ted and I have been working together for a very long time and I hold him in the highest regard both professionally and personally. At Carnarvon, we have seen and benefited from his vision, drive, and entrepreneurial spirit over an extended period. He brought us some incredibly exciting projects, and his focus and personable character often led these to very successful outcomes.
“We wish Ted improving health and pleasant times with his family for whom he sacrificed his time for so long as he served his industry and shareholders. We also look forward to him staying involved with our company over the coming years.”
Carnarvon’s Managing Director, Adrian Cook, said: “Ted has touched many people in our industry with his support, experience, and generosity and none more so than myself and the team at Carnarvon. On behalf of everyone at Carnarvon I wish Ted and his family all the very best.”