The Board of Directors of Petro Matad is pleased to announce the appointments of Ms. Enkhmaa Davaanyam as Non-Executive, non-independent Chairperson and Mr. Ridvan Karpuz as Chief Executive Officer 'CEO' of the Company. Ms Davaanyam's appointment is effective 1 August 2015 and Mr. Karpuz's appointment becomes effective mid-September 2015.
Ms. Davaanyam was previously a Non-Executive Director of Petro Matad and has agreed to take on the role of Chairperson. As a Non-Executive Director, Ms. Davaanyam was instrumental in concluding the recently announced farmout agreement with BG Group.
Ms. Davaanyam is currently the CEO of Petrovis Group, Mongolia's largest fuel supplier. Petrovis is a 32% shareholder of Petro Matad. She has over 18 years of international experience in ?financing and risk management of mining, infrastructure and energy projects. She served as the Deputy Chair of the Board of Directors of Petrovis Group from 2011 and was appointed as the CEO of Petrovis in August 2013. Prior to joining Petrovis Group, Ms. Davaanyam worked as a Managing Director at Macquarie Group for over 14 years, responsible for risk management in the energy sector in the United States and as a Head of Country Coverage for Mongolia for Macquarie Capital.
With Ms. Davaanyam's appointment as Chairperson, Ms. Oyungerel Janchiv relinquishes her Acting Chairperson position, but remains on the Board as a Non-Executive Director.