Last checked at 8 Apr 2019 07:00
EMBARGOED FOR RELEASE AT 0700 8 April 2019
CAIRN ENERGY PLC ("Cairn" or "the Company")
Appointment of Non-Executive Director
Cairn is pleased to announce the appointment of Alison Wood as an independent non-executive director with effect from 1 July 2019.
Alison will also become a member of the Company's audit committee.
Alison Wood
Alison Wood holds a BA in Engineering, Economics and Management from the University of Oxford and an MBA from Harvard Business School. She began her career with management consultants, Booz Allen & Hamilton, followed by Outram Cullinan & Company, before moving to BAE Systems PLC, where she held a number of leadership roles in strategy and business development, progressing to the role of Group strategic development director, including playing a key role in the British Aerospace / Marconi merger.
After 17 years with BAE, Alison moved to National Grid as global director of strategy and corporate development, where she supported the execution of a major equity financing to deliver the company's organic growth plans. She remained at National Grid until retiring from her executive position there in 2013. During and following her time at BAE and National Grid, Alison has held a number of non-executive positions and committee memberships (audit, nomination and remuneration), including at BTG plc and THUS plc.
In 2011, Alison joined the board of Cobham plc as a non-executive director, where she currently chairs the remuneration committee. Alison will be retiring from the Cobham board by the end of 2019. Alison is also a non-executive director and remuneration committee chair of Costain plc, TT Electronics plc and The British Standards Institution. She was previously also senior independent director of e2V plc, the technology systems and components manufacturer, until its acquisition by Teledyne in 2017.
Ian Tyler, Chairman of Cairn, said:
"I am delighted to welcome Alison Wood to the Cairn Board. Alison brings with her a wealth of public company and energy market experience. Her appointment will be an important asset to the Board, adding to its strength and depth as we continue our material exploration programme and look forward to additional sustained production and cash flow generation over the long term."
NOTES
1. Cairn instructed independent recruitment consultants Spencer Stuart in connection with the appointment of Alison Wood.
2. Alison Wood does not currently hold any Cairn shares and no further information in connection with her appointment is required to be disclosed pursuant to Listing Rule 9.6.13R.
3. The fees payable to Alison Wood in her role as non-executive director are currently £75,500 per annum. The fees payable to Cairn's non-executive directors are reviewed on an annual basis.