REG - Tullow Oil PLC - Appointment of Independent Non-Executive Chair

Tullow OilAnnouncement

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RNS Number : 6393J  Tullow Oil PLC  01 December 2025

Tullow Oil plc

Appointment of Independent Non-Executive Chair and Board reset

1 December 2025 - Tullow Oil plc (Tullow) today announces the appointment of
Roald Goethe as independent non-executive Chair of the Board, with effect from
1 December 2025.

Roald is a highly experienced oil and gas executive with extensive commercial
knowledge of the energy industry in Africa including business development,
M&A, and in oil markets, specifically financing, hedging, and trading. In
1994, he joined Trafigura Group as an executive where he had an integral role
in the development of the group's oil trading activities, primarily in West
Africa. In 2006, he founded his own company, Delaney Petroleum Ltd, trading
crude oil and petroleum products predominantly in West Africa and the Middle
East. He then returned for a three-year term with Trafigura Group in Geneva
and remained an advisor at the company until the end of 2021.

Roald has served on the Board of Tullow as an independent non-executive
Director since February 2023, where he has also been a member of the Audit and
Remuneration committees. He is a long-term supporter of Tullow, holding
28,259,396 shares and c.$400,000 2026 Senior Notes.

Roald is replacing Phuthuma Nhleko, who has notified the Board he is stepping
down with immediate effect as Chair and non-executive director to focus on
other business interests. In addition, Genevieve Sangudi, Martin Greenslade
and Mitchell Ingram have also notified the Board they are stepping down with
immediate effect as independent non-executive directors of the Board. The
Company intends to replace key positions on the Board, whilst retaining a
small, focused and aligned Board going forward. Further announcements will be
made in due course.

The significant reduction in the size of the Board(1) will result in a further
reduction of Tullow's cost base.

(1) As of 1 December 2025 the Board consists of Roald Goethe (Independent
Non-Executive Chair of the Board), Rebecca Wiles (Independent Non-Executive
Director), Ian Perks (Chief Executive Officer) and Richard Miller (Chief
Financial Officer).

 

Roald Goethe, Chair of Tullow Oil Plc, said: "It is an honour to be appointed
as Chair of Tullow. I look forward to supporting Ian, Richard and the team and
engaging with our key stakeholders as we build on Tullow's reputation as a
leading operator within the African oil and gas sector. I am confident we have
the right team in place, with the skills and competence to implement Tullow's
strategy. I would like to take this opportunity to extend my thanks to
Phuthuma, Genevieve, Martin and Mitch for all their contributions to Tullow,
and wish them all the best for the future."

"With a renewed leadership structure, reset Board and reduced cost base now in
place, we are ready to take on the challenges and opportunities which lie
ahead of us, including advancing plans to refinance the Company's capital
structure and to position Tullow to deliver value for all stakeholders."

 CONTACTS
 Tullow Investor Relations                    Camarco (Media)

                                            (+44 20 3757 4980)
 ir@tullowoil.com (mailto:ir@tullowoil.com)

                                            Billy Clegg
 Matthew Evans

                                              Georgia Edmonds

                                              Rebecca Waterworth

 

Notes to editors

Tullow is an independent energy company that is building a better future
through responsible oil and gas development in Africa. Tullow's operations are
focused on its core producing assets in Ghana. Tullow is committed to becoming
Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity
strategy that delivers lasting socio-economic benefits for its host nations.
The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).
For further information, please refer to: www.tullowoil.com
(http://www.tullowoil.com/) .

 

Follow Tullow on:

LinkedIn: www.linkedin.com/company/Tullow-Oil
(http://www.linkedin.com/company/Tullow-Oil)

X: www.X.com/TullowOilplc (http://www.X.com/TullowOilplc)

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No 596/2014 (as it forms part
of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as
amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019).
Upon publication of this announcement, this inside information will be
considered to be in the public domain. The person responsible for arranging
the release of this announcement on behalf of Tullow is Adam Holland, Company
Secretary.

This announcement is not intended to, and does not, constitute or form part of
any offer, invitation or the solicitation of an offer to purchase, subscribe
for or otherwise acquire, or to sell, transfer or otherwise dispose of, any
securities or the solicitation of any vote or approval in any jurisdiction,
whether pursuant to this announcement or otherwise.

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