Bahamas Petroleum is pleased to announce the following changes to the board of directors of the Company ("the Board") with immediate effect. William (Bill) Schrader will join the Board as non-executive Chairman and James Smith C.B.E. will join as non-executive Deputy Chairman. Steven Weyel will retire from the Board due to growing demands of his existing and new executive roles and will not seek re-election at the Company's 2014 AGM.
Bill Schrader has over 30 years' experience in the oil and gas industry, having served as Chief Executive Officer of several country operations at BP plc, as the President of the Azerbaijan International Operating Company and as Chief Operating Officer of TNK-BP. Characterised as a strong leader by his peers, Bill has an extensive industry network and proven ability to manage complex operating environments and liaise with governments around the world. Bill will succeed Adrian Collins who will become a non-executive director and assist in an orderly transition.