Cairn Energy promotes non-executive director to chairman

Cairn Energy PLC has promoted Nicoletta Giadrossi to replace Ian Tyler as chairman of the company with effect on January 1, 2021.

She is currently a non-executive director at the oil and gas exploration and development company after joining the board in 2017.
READ: Cairn Energy confirms first half production at top end of guidance

Giadrossi has extensive experience in oil and gas and other energy markets, both in executive and non-executive roles, including wide engagement ESG issues, the company said.

She will step down as chair of the remuneration committee but will remain a member of it, though she will retire as a member of the audit committee.

Tyler announced in May he would retire from the board after seven years, including six as chairman.

“I very much look forward to continuing to work with Nicoletta in her new role as chair of the board – she brings a huge breadth of knowledge and experience and will provide important continuity for Cairn as we position the company for continued growth and success,” said Simon Thomson, chief executive of the firm in a statement.

Cairn shares dipped 1% to 160.3p on Friday morning.

Source: proactiveinvestors.co.uk

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