REG-Genel Energy PLC Genel Energy PLC: Appointment of CEO

Genel EnergyAnnouncement

03/10/2022 07:00

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   Genel Energy PLC (GENL)
   Genel Energy PLC: Appointment of CEO

   03-Oct-2022 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   3 October 2022

     

                                Genel Energy plc

     

                               Appointment of CEO

    

   Genel Energy plc  ('Genel' or 'the  Company') is pleased  to announce  the
   appointment of Paul Weir  as Chief Executive Officer,  and as a member  of
   the Board of Directors, with immediate effect.

    

   Paul, who was previously Chief Operating Officer before being made Interim
   Chief Executive Officer in June this  year, joined Genel in January  2020.
   Paul had worked for more than 30 years in upstream E&P with experience  in
   the North Sea, South East Asia and Africa. Before joining Genel, Paul  was
   Group Head of Operations  and Safety at Tullow  Oil. Prior to that he  had
   spent 13  years  at  Talisman  Energy, ultimately  as  VP  Production  and
   Exploration.  He  has  also  worked  in  a  variety  of  roles  at  Total,
   Occidental, Elf and Nippon Oil.

    

   David McManus, Chair, said:

   “I am delighted  to confirm  the appointment  of Paul  as Chief  Executive
   Officer. He has the experience and vision to deliver Genel’s strategy,  as
   we focus on positive performance from our current portfolio and  utilising
   our material financial strength to grow the Company for the benefit of all
   stakeholders. Paul has already brought energy and clarity to the business,
   giving us confidence that value delivery will follow.”

    

   Paul Weir, CEO, said:

   “I am excited to be leading Genel as we move on to the next chapter of our
   growth story. We have built a fantastic team that I am confident will turn
   our significant growth  potential into value  for shareholders. My  highly
   experienced team is focused on both operational delivery – our  production
   remains robust, and our material dividend  is well supported – as well  as
   exploring opportunities for putting our  balance sheet to work to  enhance
   our position by adding assets. As we look  to do so, we will not lose  our
   firm focus on the central pillars of our business model – mitigating  risk
   and ensuring the ongoing financial strength to support our dividend in the
   long-term.”

    

                                     -ends-

    

   For further information, please contact:

    

   Genel Energy
                                         +44 20 7659 5100
   Andrew Benbow, Head of Communications
                                          
   Vigo Consulting
                                         +44 20 7830 9700
   Patrick d’Ancona 

    

   Notes to editors:

   Genel Energy is  a socially responsible  oil producer listed  on the  main
   market   of    the    London    Stock   Exchange    (LSE:    GENL,    LEI:
   549300IVCJDWC3LR8F94). The  Company is  one of  the largest  London-listed
   independent hydrocarbon producers, with an asset portfolio that  positions
   us well for a future of fewer and better natural resources projects. Genel
   has low-cost and low-carbon production from the Sarta, Taq Taq, and  Tawke
   licences in the Kurdistan Region  of Iraq, providing financial  resilience
   that allows  investment  in growth  and  the  payment of  a  material  and
   progressive dividend.  Genel  also  continues  to  pursue  further  growth
   opportunities.    For    further    information,    please    refer     to
   www.genelenergy.com.

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   ISIN:          JE00B55Q3P39, NO0010894330
   Category Code: BOA
   TIDM:          GENL
   LEI Code:      549300IVCJDWC3LR8F94
   Sequence No.:  191784
   EQS News ID:   1454909


    
   End of Announcement EQS News Service

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