The Russian powers behind oil explorers Exillon have launched a hunt for new directors after last month’s walkout by the previous board.
Chairman Dave Herbert and chief executive Mark Martin, along with directors Stuard Detmer, Anne Belveze and Ezio Braco, quit the London-listed firm last month after the appointment of two new board members.
Alexi Khotin’s RusOil group had taken a 29.9% stake in the firm, which has assets in Timan-Pechora and West Siberia, with Alexander Suchkov and Sergey Koshelenko being named to the board as a result.
The resulting power struggle saw the previous quit, leaving the company with just three directors.
Now Exillon has turned to international recruiters in a bid to find new candidates to fill the vacancies.
“We very much appreciate the work carried out by the former team at Exillon Energy,” said Koshelenko.
“At the same time, we believe that we now have an opportunity to bring in new talent who can bring highly relevant and recent experience to the company and its operations.
“At a board level, we will maintain a strong system of corporate governance, and we intend to create a high-calibre board of directors with strong independent representation, to ensure effective leadership and oversight of our business, and to help strengthen further the Board’s involvement in the Company’s risk management systems and controls.”