Ithaca Energy Inc. says that the Chief Executive Officer (CEO) Iain McKendrick is ceasing active employment for personal reasons unrelated to his role or the Company.
Mr McKendrick will be leaving the Company during October 2013 and will be replaced by Mr Les Thomas, formerly an Executive Director of John Wood Group PLC (Wood Group) and prior to that the head of Marathon Oil's European Upstream Business. Mr Thomas will take up the position of CEO and Executive Board Director on 1 October 2013.
Mr McKendrick has served as Ithaca's CEO since December 2008, growing and developing the Company into a leading independent mid cap North Sea oil and gas operator.
Following the successful execution and integration of the acquisition of Valiant Petroleum plc and the significant progress and de-risking that has been achieved towards the start-up of the Greater Stella Area development, Mr McKendrick will leave the Company in October 2013.