Zoltav Resources: Board Shake Up – Alastair Ferguson To Become Executive Chairman,
Zoltav Resources, the CIS-focused oil and gas exploration and production company, is pleased to announce a number of changes to the board with effect from 31 December 2014. Symon Drake-Brockman will be stepping down as executive chairman of the board and will become a non-executive director. Alastair Ferguson (currently an executive director of Zoltav) will be appointed executive chairman and Andrey Komarov (currently a non-executive director of Zoltav) will be appointed as an executive director of the Company.
Mr Ferguson has an extensive background in oil and gas having held both technical and senior leadership roles in BP and TNK-BP during his 33 year career in the industry. Mr Komarov is a very experienced Russian oil and gas professional having held senior managerial positions with a number of major Russian energy businesses including TNK-BP, Sibneft OJSC (now Gazprom Neft) and the Moscow Oil Refinery. As an executive director of Zoltav, Mr Komarov will oversee the development planning for both the Bortovoy and Koltogor Licences.
Symon Drake-Brockman, executive chairman, commented:
“In under two years Zoltav has transitioned from an investing company into a fully operational oil and gas business with hydrocarbon production and with substantial potential upside from the ongoing development of its assets. We are seeking with this reorganisation of the board to create a structure which places directors in positions which optimise their individual strengths and experience for the benefit of Zoltav. I am delighted that Zoltav will have, in Alastair Ferguson and Andrey Komarov, a chairman and executive director with vast experience in the Russian oil and gas industry. I look forward to continuing to help steer Zoltav’s growth as a non-executive director.”
Alastair Ferguson, executive director, added:
“The board wishes to express its thanks to Symon Drake-Brockman for his contribution to developing Zoltav. As the operator of significant assets in Russia I am delighted that Zoltav has identified, in Andrey Komarov, an executive director with the knowledge and experience to maximise the value of our existing assets and those which we may acquire in the future.”
