Scottish producer Cairn Energy said Monday Sir Bill Gammell will retire as non-executive chairman of the company after the company’s annual general meeting of shareholders on May 15..
He’ll be replaced by Ian Tyler, who’s currently a non-executive director of Cairn.
Simon Thomson, Chief Executive, Cairn Energy PLC said: “Bill has been an exceptional leader and leaves a lasting legacy at Cairn. His role in the company’s growth over 25 years has delivered significant value to shareholders. I am delighted that Ian Tyler has agreed to become our new chairman given his extensive listed company and non-executive experience.”
Sir Bill Gammell said: “I am proud of Cairn’s many achievements during my tenure as Founder, CEO, and subsequently chairman, and as a shareholder I look forward to further progress. After 25 years on the Board, I am pleased to be leaving in the knowledge that the Board and the company will remain in highly capable hands with Ian as chairman and with Simon at the helm as CEO.”
Ian Tyler was appointed as an independent non-executive director at Cairn Energy PLC in June 2013.
He holds a number of other non-executive positions including: Non-executive chairman of Al Noor Hospitals Group plc and Bovis Homes Group Plc, Non-executive director of Cable & Wireless Communications plc and BAE Systems plc.
He served as chief executive of Balfour Beatty plc from 2005 until March 2013.