Faroe Petroleum PLC Appointment of Independent Non-Executive Director (5255U)
25 October 2017 - 5:00PM
UK Regulatory
TIDMFPM
RNS Number : 5255U
Faroe Petroleum PLC
25 October 2017
25 October 2017
Faroe Petroleum plc
("Faroe Petroleum", the "Company")
Appointment of Independent Non-Executive Director
Faroe Petroleum, the independent oil and gas company focusing
principally on exploration, appraisal and production opportunities
in Norway and the UK, is pleased to announce the appointment of
Brent Cheshire as an Independent Non-Executive Director.
Brent commenced his career with Shell as a geologist in its
exploration and production division, eventually spending fourteen
years with the group. In 1991, he joined Amerada Hess, holding a
number of senior positions, latterly as Senior Vice President for
E&P Worldwide Technology, where he was responsible for all
global technical activities.
In 2004, he became DONG Energy's first UK employee, as managing
director of its UK E&P business. Over the next 13 years,
eventually becoming managing director of DONG Wind Power and
Chairman of its entire UK operations; he developed the business
into one of the largest acreage holders West of Shetland and the
leading offshore wind developer in the UK.
During his executive career with DONG, Brent also participated
in the setting up of Island Gas Ltd (now known as IGas Energy) an
onshore energy producer serving as technical director and board
member.
Brent's appointment to Board of the Company takes effect from 25
October 2017. With four independent non-executive directors, Faroe
Petroleum is fully compliant with the UK Corporate Governance Code
stipulation that half the Board comprise non-executive directors
determined by the Board to be independent. The Company continues
its process of progressive refreshment of the Board.
John Bentley, Non-Executive Chairman of Faroe Petroleum,
commented:
"I am very pleased to welcome Brent Cheshire to our Board. Brent
is a seasoned E&P operator, which, when combined with his
extensive corporate leadership positions, adds significant strength
to the Faroe Board at this time in the Company's evolution. His
knowledge of the sector and experience in developing large scale
infrastructure projects is second to none and we look forward to
working with him."
- Ends -
For further information please contact:
Faroe Petroleum plc Tel: +44 (0) 1224 650
Graham Stewart, CEO 920
Stifel Nicolaus Europe Tel: +44 (0) 20 7710
Limited 7600
Callum Stewart / Nicholas
Rhodes / Ashton Clanfield
BMO Capital Markets Tel: +44 (0) 207 236
Neil Haycock / Tom 1010
Rider / Jeremy Low
FTI Consulting Tel: +44 (0) 20 3727
Edward Westropp / Emerson 1000
Clarke
Notes
Brent Cheshire (62) has held the following directorships during
the last five years:
Current Directorships Past Directorships
Danish-UK Chamber of Commerce DONG VE A/S
Cheshire Energy Advisory DONG Vind A/S
Ltd
Dong Energy Wind Power
TW Holding A/S
Dong Energy Wind Power
Taiwan Ltd.
DONG Energy InvestCo Limited
DONG E&P Services (UK)
Limited
DONG Energy Power (UK)
Limited
DONG Energy S&D UK Limited
Njord Limited
Heron Wind Limited
Vi Aura Limited
Vi Aura Transmission Limited
DONG Energy (UK) Limited
Oftrac Limited
Race Bank Wind Farm Limited
Walney Extension Limited
(formerly 'DONG Energy
Walney Extension Limited')
DONG E&P (UK) Limited
Race Bank Wind Farm (Holding)
Limited
DONG Energy Race Bank Wind
Farm (Holding) Limited
Burbo Extension Ltd
Shetland Land Lease Limited
Mr Cheshire does not hold any ordinary shares in the
Company.
Save for the above, there is no further information required to
be disclosed under paragraph (g) of Schedule Two of the AIM Rules
for Companies, with respect to the appointment of Brent
Cheshire.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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