LONDON (Alliance News) - Cabot Energy PLC on Tuesday said Non-Executive Chairman Jon Murphy will be leaving the company after five years in the position.
Murphy will depart once a successor has been found, Cabot said, with Senior Independent Director Iain Lanaghan leading the search.
Lanaghan commented: "The board thanks Jon for his guidance and exhaustive energy in leading the business through what has been a transformative period. I am pleased that we will have his counsel during the handover period.
"The board has initiated a governance committee with specialist advisors to search for a new independent non-executive chairman on which we will update the market in due course."
Shares were untraded Tuesday, having last traded at 4.75 pence each Monday.