LONDON (Alliance News) - UK Oil & Gas Investments PLC on Wednesday said Stephen Sanderson, its chief executive, has been appointed executive chairman of the company.
Sanderson has been chief executive, a non-board position, since January.
He replaces David Lenigas in the chairman role, as he retires from the board to focus on other business interests. Lenigas also is executive chairman of Rare Earth Minerals PLC and AfriAg PLC, and he is non-executive chairman of Inspirit Energy PLC.
UK Oil & Gas shares were down 1.4% at 2.12 pence on Wednesday, reversing earlier gains upon the announcement of Lenigas's departure.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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