Eland Oil & Gas PLC Directorate Change (8196L)
July 24 2017 - 2:00AM
UK Regulatory
TIDMELA
RNS Number : 8196L
Eland Oil & Gas PLC
24 July 2017
24 July 2016
Eland Oil & Gas PLC
("Eland" or the "Company")
Directorate Change
Eland Oil & Gas PLC (AIM: ELA), an oil & gas production
and development company operating in West Africa with an initial
focus on Nigeria, is today pleased to announce the appointment of
Ronald "Ron" Bain as Chief Financial Officer, a Board position,
taking effect on 1 August 2017.
Ron recently led the Financial Integration Planning for the
Baker Hughes / GE Oil & Gas merger. Prior to this Mr Bain was
the Regional Accounting Director of Europe, Africa and
Russia/Caspian for Baker Hughes, responsible for all financial
reporting, financial management and compliance activities in over
40 countries. He has a depth of experience with roles of increasing
scope and responsibility including Controllership, Company
Secretarial, Treasury and FP&A with companies such as Baker
Hughes, BJ Services, Donside Paper Company and Vetco Gray. He is a
qualified Chartered Accountant FCCA.
Olivier Serra, the current CFO of Eland has agreed to step down
as a Director and has resigned from the Eland board with immediate
effect. He will remain as CFO until the end of the month, following
which he will be staying on as a consultant to concentrate on
strategic debt structure and options for the Company.
A further announcement will be made by the Company upon Mr
Bain's appointment to the CFO role and Eland board on 1 August
2017.
George Maxwell, CEO of Eland, commented:
"I am delighted to welcome Ron to the Company. Ron has excellent
technical and management experience which will be invaluable given
the ambitions of Eland."
"I would also like to thank Olivier Serra his contribution to
the Company as CFO and we look forward to him positively driving
forward our strategic debt planning for the development of our
Nigerian assets."
For further information:
Eland Oil & Gas PLC (+44 (0)1224 737300)
www.elandoilandgas.com
George Maxwell, CEO
Finlay Thomson, IR
Canaccord Genuity Limited (+44 (0)20 7523 8000)
Henry Fitzgerald O'Connor / James Asensio
Panmure Gordon (UK) Limited (+44 (0)20 7886 2500)
Adam James / Atholl Tweedie
Tom Salvesen
Camarco (+44 (0) 203 757 4980)
Billy Clegg / Georgia Mann
This information is provided by RNS
The company news service from the London Stock Exchange
END
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