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Nostrum Oil & Gas PLC - London-based exploration & production company - Says Kaat Van Hecke has stepped down as interim CEO and resumed her role as a non-executive director.
Van Hecke took up the CEO role after Nostrum in December announced the resignation of Kai-Uwe Kessel amid a strategic review of the company's future.
The company is in the process of recruiting a full-time CEO, adding that Executive Chair Atul Gupta will step into the role of on an interim basis until the process is concluded and a new chief is hired.
2The board of Nostrum is very grateful to Kaat both for having stepped into the interim CEO role at short notice and also for the job that she has done during an incredibly challenging period due to the reduction in world oil prices and the impact of Covid 19. Under Kaat's leadership we have exceeded our expectations for production, significantly reduced our cost base and made good progress in securing third-party hydrocarbons to monetise our gas processing facilities," says Gupta.
Current stock price: 10.52 pence
Year-to-date change: down 38%
By Ife Taiwo; ifetaiwo@alliancenews.com
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