Erin Energy Corporation (“Erin Energy” or the “Company”) (NYSE MKT:ERN)
(JSE:ERN) announced today the appointment of John Hofmeister, a former
President at Shell Oil Company, as Chairman of the Board of Erin Energy
Corporation. The appointment will be effective the day immediately
following Erin Energy’s annual meeting of shareholders (the “Annual
Meeting”), expected to take place in late-May 2016, when current
Chairman and Chief Executive Officer (CEO), Kase Lawal, has decided to
retire as an officer and director.
The Company also announced the appointment of its current Chief
Operating Officer, Segun Omidele, as CEO. Like Hofmeister, Omidele will
assume the role following the Company’s Annual Meeting in May, starting
an orderly leadership transition over the next three months.
Commenting, Lawal said: “This is an exciting time for Erin Energy.
The board of directors has identified two outstanding individuals to
take the Company to the next level. Both John and Segun are intimately
familiar with our business, each has a diverse set of skills, and a
combined wealth of experience in the energy sector. I look
forward to working with Segun, the board and the management team during
this transition period.”
Lawal continued, “As part of our ongoing strategy, the roles of
Chairman and CEO are to be separated as we continue applying global
standards to our corporate governance and ensuring complete independence
of the board. I am very excited about the future growth potential
of the company and will be available to the board in an advisory
capacity.”
Hofmeister, as President of Shell Oil Company, led the company’s US
Country Coordination Team of Businesses/Functions of the Shell Group in
the US. He initiated and managed the portfolio, profitability, people
and reputation objectives of US businesses on behalf of Shell Chief
Executive, Board of Directors and shareholders and represented the
interests of Shell Group to US stakeholders, including investors,
government, communities and the general public. Hofmeister has also held
key executive leadership positions at General Electric, Nortel, and
Allied Signal (now Honeywell International) and currently serves on the
boards of Hunting, plc and Applus Services SA. He is also a member of
the National Petroleum Council in Washington, D.C.
Omidele, a 36-year exploration and production professional, has been
with the Company since 2011. He also served as Senior Vice President for
Exploration and Production for Allied Energy Corporation from 2008 to
2011. Prior to Allied Energy, Omidele held various senior technical and
management positions with Shell Oil companies in Nigeria, UK and USA for
more than 28 years. He holds a Master’s degree in Petroleum Engineering
from the University of Houston and he is a graduate of the Advanced
Management Program from Harvard University.
About Erin Energy
Erin Energy Corporation is an independent oil and gas exploration and
production company focused on energy resources in sub-Saharan Africa.
Its asset portfolio consists of 9 licenses across 4 countries covering
an area of 40,000 square kilometers (10 million acres), including
current production and other exploration projects offshore Nigeria, as
well as exploration licenses offshore Ghana, Kenya and Gambia, and
onshore Kenya. Erin Energy is headquartered in Houston, Texas, and is
listed on the New York and Johannesburg Stock Exchanges under the ticker
symbol ERN.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160314005332/en/
Copyright Business Wire 2016
Source: Business Wire
(March 14, 2016 - 8:00 AM EDT)
News by QuoteMedia
www.quotemedia.com