Oilex has launched a search for new non-executive directors.
The move comes after Dr Bruce McCarthy confirmed he would not stand for re-election in the company’s general meeting next month after a decade of service.
The firm, which focuses on developing unconventional petroleum resources around the Indian Ocean Rim, aims to increase the board’s balance of independence with the recruitment campaign.
Company chairman Max Cozijn said: “Dr McCarthy has been an integral part of the company for almost 10 years, having been managing director from 2005-2012 and following that, two years as a non-executive director. His previous experience within India led the company to its flagship asset, Cambay.
“On behalf of the entire board, I would like to thank Dr McCarthy for his significant contribution to the company and wish him all the best for the future.”
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