A former boss at TNK-BP is to take over as chairman of Bahamas Petroleum, it has emerged.
BP veteran William Schrader will join the Bahamas-based explorer as chairman, with Ministry of Finance minister James Smith named as deputy chairman.
Industry veteran Schrader was formerly chief executive for several countries at BP, and chief operating officer of the firm’s Russian joint venture.
He replaces current chairman Adrian Collins, who is to become a non-executive director on the board.
“Bill will bring not only years of direct industry experience from some of the most respected companies in the business, but also the drive to see Bahamas Petroleum through to the next stage in its development,” said chief executive Simon Potter.
“His familiarity with operating successfully in new hydrocarbon provinces will be a welcome addition to an already well-established team.
“James will bring a wealth of knowledge on operating effective and efficient businesses, as well as an intimate familiarity with the region in which we operate, as a member of The Bahamas community.
“He will be able to impart an understanding of the vision Bahamians have for their economy over the long-term, of which Bahamas Petroleum wishes to be a significant part.”
The move comes as Enven chief executive Steven Weyel announced he would be retiring from the board due to his other commitments.
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