Genel Energy has confirmed interim CEO Paul Weir to take over the role for good, with immediate effect.
Weir was COO until June this year, when he became interim CEO. He joined Genel in January 2020.
“I am delighted to confirm the appointment of Paul as Chief Executive Officer,” said chair David McManus.
“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.”
Before he joined Genel, Paul had been group head of operations and safety at Tullow Oil. Before Tullow, he had worked at Talisman Energy, ending up as vice president of exploration and production.
New CEO Weir said Genel was moving 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.”
The team is focused on operational delivery and enhancing production through “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.”
Bill Higgs stepped down in June from the CEO spot at Genel. He took the decision after only 45% of shareholders backed Higgs at the AGM in May. Higgs also moved to the CEO spot after joining as COO.