Oil and gas firm Tullow Oil said Wednesday that Dorothy Thompson CBE, Non-Executive Chair, had decided to step down from Tullow's Board.
"A search process to find a new Chair has been launched and is expected to conclude towards the end of the summer. Dorothy will remain Chair of Tullow until the new Chair is appointed and an appropriate handover has taken place," Tullow said.
Thompson joined the Tullow Board in April 2018 and became Chair in September of the same year following the retirement of Tullow's Chairman and Founder, Aidan Heavey.
Thompson was also Executive Chair of Tullow from December 2019 to September 2020 after which she reverted to her Non-Executive position following the appointment of Rahul Dhir as CEO.
Dorothy Thompson CBE, Non-Executive Chair of Tullow Oil plc, said: "My time with Tullow has been interesting and challenging and Tullow is now well-positioned for a positive and sustainable future. With the refinancing successfully concluded through our recent bond issue and with a new business plan in place which is progressing well under Rahul Dhir's capable leadership, I have decided that this is the right time to step back from Tullow and to move to other opportunities. I wish the Board and staff all good fortune and will remain a keen observer of Tullow as it executes its new strategy."
Jeremy Wilson, Senior Independent Non-Executive Director of Tullow Oil plc, also commented: "All members of the Board and staff join me in thanking Dorothy for her service to the Group especially during her time as Executive Chair. During a very testing time, she calmly and wisely steered Tullow through a period of major financial and operational upheaval, and she leaves us with our best wishes for the future."
Rahul Dhir, Chief Executive Officer, Tullow Oil plc, said: "I am very sorry that Dorothy is leaving Tullow but fully understand her desire to step back now that the business is in a stronger position. I will miss Dorothy's astute counsel, her leadership and her expert chairing of the Board and I wish her well in her future endeavours."