Directorate Change at Range Resources Limited
The Board of Range announces that Sir Sam Jonah, Non-Executive Chairman, has decided to step down from the Board of the Company effective from the conclusion of the Company’s next Annual General Meeting (“AGM”). The AGM will be held at the end of November 2014 (full details of the AGM will be published separately in due course).
Mr Graham Lyon, who joined the Board in February 2014 as a Non-Executive Director, will assume the role of Non-Executive Chairman of the Board with effect from the conclusion of the AGM. Mr Lyon has over 30 years’ international experience, working at several private and listed companies. A Petroleum Engineer, he has held Chief Executive and Non-Executive Board positions. Mr Lyon’s international experience spans Europe, FSU, Middle East, North Africa, North and South America. Mr Lyon spent 25 years with Petro-Canada and its predecessor companies.
Rory Scott Russell, CEO, commented:
“On behalf of the Board and everyone at Range, I would like to thank Sir Sam for his huge contribution, dedication and service to the Company over the last eight years and wish him great success in his future endeavours. He has helped build the Company’s extensive core acreage in Trinidad, our highly prospective exploration acreage in Puntland, and led Range’s successful listing on AIM. Sir Sam will leave Range well poised to exploit the potential of our exciting oil and gas projects.
“Graham is an outstanding candidate for the role of Non-Executive Chairman and his extensive skills and experience make him the ideal person to lead the business through its next phase of evolution. I have no doubt that under his leadership the business will go from strength to strength, and we will be able to demonstrate that we have created a stable platform from which to support our growth aspirations and deliver shareholder value.”
Sir Sam Jonah, Non-Executive Chairman, commented:
“Having overseen the Company through the recent transition period, I am confident that I am stepping down with Range well-positioned for a period of strong growth and value creation. The restructured Board and management team have extensive knowledge and experience in both the oil and gas and financial sectors. This experience, along with their clearly defined strategy, should enable the Company to deliver efficiently on its set goals.”
Range Resources Limited