Aberdeen-based NEO Energy’s chief executive, Paul Harris, and chief technical officer Martin Rowe have announced they will be stepping away from the firm.
This comes as the firm’s chairman, Martin Bachmann, and two non-executive directors – David Gair and Fiona Hill – also vacate board positions.
Recently, NEO Energy and its 100% owner HitecVision announced that they are slowing down investment activities due to UK fiscal and political instability.
The firm wrote: “HitecVision and the NEO Board would like to thank all of the departing board and executive team members for their significant contributions to NEO’s growth.”
Recently, there has been much market speculation as to the future of NEO Energy with backer HitecVision potentially looking to sell.
Senior analyst for Wood Mac James Reid told Energy Voice in July that HitecVision has come to “the end of their investment horizon” with NEO Energy.
NEO welcomes new management
The firm has announced that John Knight has been appointed executive chair of the board alongside his non-executive directors Einar Gjelsvik, Tim Dodson and Grethe Moen.
John Knight joined HitecVision in 2018 after departing the Norwegian state-owned firm Equinor.
He has 16 years’ experience from Equinor, where he has held several central managerial positions in international operations.
Knight also has a background in energy investment banking and, much like NEO’s incoming CEO, has experience in law having worked as a barrister.
Outgoing CEO and CTO Harris and Rowe will support the business until the end of the year to assist with an “orderly transition of their responsibilities.”
After departing the HitecVision-backed firm Harris will retire while Martin steps away from NEO Energy.
To replace the outgoing senior business leaders Andy McIntosh has been appointed as chief executive officer and Craig McKenzie has been appointed as chief operating officer. Both are internal hires.
McIntosh has been with the firm since October 2019, having served as general counsel and director of business services until his recent appointment to the top job.
The new CEO has a legal background, having worked as a senior legal advisor for ConocoPhillips and Maersk Oil.
He also spent a little over four years working for EnQuest in Aberdeen.
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