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28 Jun 2024 14:08
Press release
Board of Directors Changes
Ithaca Energy plc, ("Ithaca Energy" or the "Company"), a leading independent oil and gas operator in the North Sea today formally announces the appointment of Yaniv Friedman as Executive Chairman. Today's appointment follows the announcement on 28 May 2024 of a number of changes to the Company's Board of Directors and Executive Management team, including that of Yaniv Friedman's appointment, to strengthen the Company's executive leadership as it embarks on its next phase of growth, having recently announced its proposed transformational business combination with substantially all of the upstream assets of Eni in the UK.
Yaniv Friedman has significant global executive experience working in the energy and infrastructure sectors and brings considerable strategic, commercial, public company and M&A expertise. Yaniv most recently held the role of CEO of Modiin Energy LP, an oil and gas partnership listed on the Tel Aviv Stock Exchange with operations including development projects in the US as well as exploration offshore Israel. Prior to this, Yaniv served as Deputy Chief Executive Officer of Newmed Energy LP, Israel's leading energy partnership in the exploration, development, production and sale of natural gas. Yaniv has also held other senior executive positions in public and private energy companies.
There is no further information to be disclosed pursuant to Listing Rule 9.6.13.
Dave Blackwood, CBE having temporarily served as non-executive Chairman will return to his role as a non-executive director.
Enquiries
Ithaca Energy | |
Kathryn Reid - Head of Investor Relations, Corporate Affairs & Communications | kathryn.reid@ithacaenergy.com |
FTI Consulting (PR Advisers to Ithaca Energy) | +44 (0)203 727 1000 |
Ben Brewerton / Nick Hennis / Rosie Corbett | ithaca@fticonsulting.com |
Note to editors:
About Ithaca Energy plc
Ithaca Energy is a leading UK independent exploration and production company focused on the UK North Sea with a strong track record of material value creation. In recent years, the Company has been focused on growing its portfolio of assets through both organic investment programmes and acquisitions and has seen a period of significant M&A driven growth centred upon two transformational acquisitions in recent years. Today, Ithaca Energy is one of the largest independent oil and gas companies in the United Kingdom Continental Shelf (the "UKCS"), ranking second by resources.
With stakes in six of the ten largest fields in the UKCS and two of UKCS's largest pre-development fields, and with energy security currently being a key focus of the UK Government, the Group believes it can utilise its significant reserves and operational capabilities to play a key role in delivering security of domestic energy supply from the UKCS.
Ithaca Energy serves today's needs for domestic energy through operating sustainably. The Group achieves this by harnessing Ithaca Energy's deep operational expertise and innovative minds to collectively challenge the norm, continually seeking better ways to meet evolving demands.
Ithaca Energy's commitment to delivering attractive and sustainable returns is supported by a well-defined emissions-reduction strategy with a target of achieving net zero by 2040.
Ithaca Energy plc was admitted to trading on the London Stock Exchange (LON: ITH) on 14 November 2022.
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