The North Sea Transition Authority has begun its hunt for a new board chairperson ahead of the departure of Tim Eggar in spring 2024.
A job posting on the government’s public appointments page calls for a new non-executive chair to lead the NSTA board in regulating and promoting the UK’s oil, gas, and carbon storage sectors.
The successful candidate will be required to carry out duties for around two days per week, receiving remuneration of £80,000 per annum for a term of three years.
The new appointee will replace current chairman Tim Eggar, who is set to stand down when his contract ends in March 2024.
Mr Eggar, a former UK energy minister, took on the position in 2019. He was previously a member of parliament for almost 20 years and acted as the UK government’s energy minister between 1992 and 1996, later holding numerous roles within industry.
An NSTA spokesman said: “Tim Eggar is due to stand down as non-executive Chairman when his term expires in March 2024. Tim has provided – and continues to provide – invaluable support to the Board and leadership team during a pivotal time for the organisation.
“Since he joined the Board in March 2019, the NSTA has revised its strategy to put net zero at the heart of its work and changed its name to reflect our leading role in the UK’s energy transition. The process of appointing his successor is ongoing.”
NSTA accounts show the regulator holds around seven board meetings per year, and roughly the same number of committee meetings – both of which the chairperson would be expected to attend.
According to the job description, the candidate will act as an “ambassador” for the NSTA, by promoting its reputation across government and industry.
The position calls for senior experience with financial and commercial accountability, communication and influencing skills, sound knowledge of corporate governance and – naturally – an understanding of the oil and gas and wider energy sector.
They are expected to foster “effective, cooperative, and inclusive” leadership of the ten-member board and help steer the regulator via collaborative working across government and industry.
They are also required to offer “support and counsel” to the NSTA executive team while providing “constructive challenge” on the delivery of the OGA Plan – the corporate guidance for the organisation which currently runs to 2024.
The reshuffle will mark the second major change at the top of the organisation in around 18 months, after former chief executive Andy Samuel stepped down at the end of 2022, and was succeeded by current boss Stuart Payne.
Applications for the role are open until 2 October 2023, with interviews expected to end by early December.
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