Change to Board of Directors
Tullow Oil PLC
6 April 2000
Tullow Oil plc
Pat Plunkett to succeed Tom Toner as Chairman
Board Changes
Tullow Oil plc announces the following Board changes to
support its plans to re-domicile as a UK Registered company.
Pat Plunkett, currently a Non-Executive Director of the
Company, succeeds Tom Toner as Chairman of Tullow with
immediate effect.
Pat was appointed to the Board of Tullow in 1998. He was
previously Chairman and Managing Director of the
stockbroking and corporate finance businesses of ABN AMRO in
Ireland and has over thirty years' experience in the
financial services industry. He was a Director of the Irish
Stock Exchange Ltd between 1995 and 1998. He is currently a
Director of a number of private companies.
Matt Maher, Finance Director and Company Secretary is
retiring from his executive duties with immediate effect but
has agreed to remain as Company Secretary until the change
of domicile becomes effective.
Tom Hickey, Chartered Accountant, is joining Tullow as
Finance Director in early May. Tom was previously an
Associate Director of ABN AMRO Corporate Finance (Ireland)
Ltd. In this role he advised a wide range of public and
private companies in the areas of mergers and acquisitions,
flotations and related transactions including Tullow's most
recent Placing and Open offer in November 1999. Tom
qualified with Arthur Andersen in Dublin where he worked on
a number of assignments for public companies in the natural
resources sector. Tom will be based at Tullow's London
office.
Duilio Ciriani, Executive Director and Dan O'Donohoe, Non-
Executive Director are retiring from the board, both with
immediate effect. Duilio will continue to retain his
executive management responsibility for exploration.
It is our intention to appoint additional UK-based Non-
Executive Directors to ensure an appropriate balance within
the Board following the re-domicile of the Company.
Commenting on the announcement, Mr Aidan Heavey, Chief
Executive of Tullow, said;
'We are delighted with the appointment of Pat Plunkett to
the position of Chairman of Tullow. Pat has been closely
involved with Tullow in an advisory capacity since 1994 and
more recently as a Non-Executive Director. As we plan to re-
domicile the Company to the UK where there is a wider
investment audience and as Tullow continues to pursue an
aggressive investment program in the exploration sector,
Pat's experience and dynamism will be invaluable.
We would like to take this opportunity to thank our outgoing
Chairman, Tom Toner, who has made an enormous contribution
to the evolution and development of the Company, since he
joined in 1989. His vision and wise counsel have been
central to the formulation and successful implementation of
the Company's strategy during this period.
We look forward to welcoming Tom Hickey to the Board of
Tullow. We have worked with Tom Hickey for a number of years
and have been impressed by the breadth of his financial
capability and corporate expertise. I am confident he will
make a very valuable contribution to the Group.
Matt Maher has been with Tullow since 1987 and has been a
key member of the Tullow management team. His knowledge and
acumen have been of great assistance to the Board. We wish
Matt well in his retirement and are pleased that he has
agreed to remain as Company Secretary for a period to ensure
a smooth transition to UK domicile.
Both Duilio Ciriani and Dan O'Donohue have been Directors of
Tullow for a number of years. Their professionalism and
commitment to Tullow's interests throughout this period have
been unwavering. As Tullow heads into an intensive period
of exploration activity, Duilio's experience will remain
critical to the Group and we are pleased that he will retain
his executive responsibilities.'
For further information please contact:
Aidan Heavey Tel: 00 44 20 7976 2600
Chief Executive
Graham Martin Tel: 00 44 20 7976 2600
Legal and Commercial Director
Judith Parry/Simon Rothschild Tel: 00 44 20 7256 5756
Millham Communications
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