Serica Energy (AIM: SQZ) has appointed Chris Cox as its chief executive with the former Spirit Energy boss set to take up the role in July.
Mr Cox will assume the role on at the start of July at which point Serica’s chairman David Latin will end his temporary role as interim CEO at the same time.
Mr Latin commented: “We are delighted to have secured the services of Chris Cox after a rigorous recruitment process.
“His technical and commercial acumen, combined with his track record in leadership and teambuilding as CEO of substantial upstream entities operating in multiple geographies including the UK and Norway, make him an excellent fit with Serica’s existing operations, exciting drilling programme currently underway and ambitions to grow through M&A.
“With this appointment, we have our new executive team in place and I look forward to working with them to deliver growth and returns for our investors.”
Cox takes the reigns at Serica during a ‘very important time’
The incoming Serica boss has plenty of experience leading international oil companies having served as Spirit Energy’s chief executive.
Chris Cox stood down as CEO of Spirit Energy in February 2022 after six years with the firm and its parent company Centrica.
Chris Cox also held an interim chief executive role at Capricorn Energy throughout 2023.
Most recently he has been working on his own North Sea exploration and production firm, Curium Resources, which he started with Graham Stewart in 2023.
Mr Cox said: “I am honoured to be given the opportunity to lead the team at Serica at this very important time.
“In the last several years, Serica has established itself as one of the leading producing companies in the UK North Sea.
“I will do my utmost to continue the company’s reputation for safe high quality operational performance, to realise the significant potential for growth within the existing portfolio and to add further value for shareholders through M&A.”
© PRESS AND JOURNALWhile hunting for a new chief executive Mr Latin told Energy Voice: “We want to be a bigger company.”
This comes as the firm turns its attention to mergers and acquisitions (M&A), namely overseas.
The Serica chairman laid out plans for “growing hubs”, the firm currently has two in the UK, and he said: “We want to be more and not necessarily in the UK given the current fiscal environment.”
Serica’s former CEO Mitch Flegg worked his final day with the firm last month following six years at the helm.
Mr Flegg spearheaded the acquisition of Tailwind Energy in 2023 while in charge of Serica Energy.
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