Pantheon Resources PLC - Oil and gas company focused on onshore operations in the US - Says Chair Phillip Globe intends to retire. The board has chosen David Hobbs, who joined the board in a strategic capacity in March, as the new chair. He will become executive chair upon the execution of an employment agreement.
Pantheon says that it recognises that additional independent non-executive appointments are required as a consequence of these board changes, and says it has already initiated a process in this regard.
Chief Executive Officer Jay Cheatham says: "As we move forward into a new phase for Pantheon, David brings a wealth of knowledge and experience that is extremely desirable. We will now work together to develop the framework of complimentary roles for David as executive chairman and myself as CEO."
Current stock price: 17.03 pence, up 2.0% in London on Thursday afternoon
12-month change: down 83%
By Holly Beveridge, Alliance News reporter
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Pantheon Resources plc (PANR)