Friday, July 25, 2014

Gulfsands chairman set to retire this year

Friday, July 12th, 2013

Andrew West, chairman of Gulfsands Petroleum (LON:GPX), plans to step down from the board later this year.

He is leaving due to his other professional and personal commitments, the company revealed.

The oil and gas firm with activities in Syria, Morocco, Tunisia, Colombia and the US said West’s tenure of the role since 2006 had “coincided with a period of continuous operational and developmental activity and dramatic shifts in the company’s fortunes”.

“He has overseen several changes of management and has helped to guide the company through both its phase of rapid growth in Syria and the more recent challenges posed by the difficult political situation currently pertaining in that country,” it said.

The company said the firm would now identify and appoint a non-executive director to succeed to the role of chairman and ensure an orderly handover.

“As Mr West’s term as chairman draws to a close, he remains committed to leaving the company in the strongest possible position to achieve its twin goals of building significant reserves and operating revenues in new markets while remaining poised for the earliest possible re-commencement of its Syrian operations,” it said.

Related Reading: